Austerity baby-Spain hitting close to 5 million unemployed
“We are in the worst moment” says Rubalcaba.
The Spanish economy is not improving, despite all the PR we hear about it on mainstream media. With unemployment rate close to 22%, and almost 5 million people unemployed, we don’t see how the “inventory” of over 1 million empty apartments and houses will be sold in near future. The situation is detoriating, and with all the real estate fantasy valuation intact, the possibility of improving Spanish economy are very low. In some provinces like Andalucia, unemployment is over 30%. Remember, Spain is one of the biggest European countries….
Full article in espanol, El Pais,