UnNews:Spain posing a late entry into the Eurozone financial crisis
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Spain posing a late entry into the Eurozone financial crisis
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Tuesday, July 26, 2016, 00:45:UTC)(
3 June 2012
Madrid, Spain -- Just when the world thought the situation in Europe couldn't get any worse, it got worse. We all know how Greece flushed it's economy down the drain with the widespread corruption and borrowing money that they knew they could never pay back. Well it turns out that Spain also did likewise and has also put in an entry (if not a tad late) to compete for the title of most unresolvable economy in the Western Hemisphere!
So how did Spain manage to get to this state of backward affairs? The government? The people? The infamous disappearing Leprechaun gold of Ireland? Or simple biting off more than they could chew? No it was down to poor government skills, the people not paying their taxes, money "disappearing" into the hands or foreign investors and last of all borrowing more money they could pay back in one hundred life-times.
So what is to be done about this tragic situation that is continually sweeping over Europe? Speculation continues as to who might be next. I hope that we promptly see another "bailout package" or anything else that involves throwing money at the situation and sweeping it under the carpet, I mean that always works, especially when it involves billions or Euros worth of hard earned taxpayers money.
I'm sure in five years time the rest of the world will be laughing about this little hiccup in the European Economy, whilst the people of Spain are still hard at work paying grossly over the top taxes and cleaning up the mess of the government of today, but hey this reporter ain't Spanish so who cares!
|This article features first-hand journalism by an UnNews correspondent.|