După Grecia, Spania ?

Dubai, apoi Grecia, au fost primele semne despre state în cvasifaliment.
Dar posibila intrare a Spaniei în "club", ar atrage nu doar prăbuşirea euro, ci ar marca începutul celei de-a doua etape a crizei declanşate în 2007-2008.
Conform analizelor firmei de consultanţă şi management McKinsey, totalul datoriei de stat, a sectorului privat şi a cetăţenilor, raportat la mărimea economiei, îl depăşeşte pe cel al oricărui stat dezvoltat, mai puţin SUA şi Japonia.
Un bailout pentru Grecia, eventual Portugalia, ar fi fezabil, dar la mărimea "găurii" din Spania, este greu de crezut că ar fi posibil.

Articolul original - "The Pain in Spain ... And What It Means for Europe and Beyond" - aici.

"Mauro F. Guillén, professor of international management at Wharton, agrees that the construction bubble is at the center of Spain's current problems, which built up "during the last six or seven years." The bubble goes well beyond housing and commercial real estate to include all sorts of infrastructure, "roads and bridges and railway tracks. All that became a very important part of the economy, to the point that about 45% of all new construction -- not just residential construction but any kind of construction -- in all of Europe was taking place in Spain, when the Spanish economy is maybe 15% of Europe." Construction is highly labor intensive," Guillén adds. When it slows down, "then you have a lot of people out of [work]."