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Wednesday, December 22, 2010

Spain's Economic Update

As the common masses reel under the historic austerity measures imposed by the Government, the latest numbers suggest that the Spanish Economy seems to be reaching its recovery targets. The fifth-largest Economy in Europe has seen some unprecedented hardships, ever since its real estate bubble busted around 2007-08. Spain’s Government deficit shot up to 11.1% in 2009, much to the annoyance of the European Union.