Spain 'will not suffer' through third Greek bail-out, say economists
Wednesday, September 11, 2013 @ 8:01 PM
SPAIN'S economy and that of the Eurozone will not be affected by a third EU bail-out for Greece, say experts.
Dean of Economics at Pompeu Fabra University in Barcelona, Dr José García Montalvo, said market perspectives had changed and fears of Spain suffering a knock-on effect from the 'Greek Tragedy' were reduced.
Back in 2010 when Greece was given its first bail-out, world markets assumed that the Eurozone's weaker countries known as the PIGS – Portugal, Ireland, Greece and Spain – would all be pulled down at once since the other three would suffer as a result of a domino effect.
This has been shown not to be the case in any of the three nations, even though they are all suffering from high unemployment, limited or zero growth and public debt, meaning the markets are unlikely to tar the Iberian Peninsula or the Emerald Isle with the same brush as Greece if the Hellenic nation gets a third wad of cash.
Read more at thinkSPAIN.com