Spain is back in recession
It’s a tough job but somebody has to do it. Luis de Guindos arrives for his first day of work as Spain’s Economy Minister
Spain's new conservative government led by Mariano Rajoy is facing the old problem: heavy indebtedness leads to austerity measures which lead to slowing economic growth.
As reported in El Pais, Luis de Guindos, appointed last week by Rajoy as Economy Minister said yesterday, "Let nobody fool themselves; the next two quarters from the point of view of growth and from the point of view of employment are not going to be easy."
Unemployment for the third quarter of 2011 stood at 21.5 percent. It is expected to rise when the fourth quarter's figures are tabulated.
The story you just read is accessible and free to all because thousands of listeners and readers contribute to our nonprofit newsroom. We go deep to bring you the human-centered international reporting that you know you can trust. To do this work and to do it well, we rely on the support of our listeners. If you appreciated our coverage this year, if there was a story that made you pause or a song that moved you, would you consider making a gift to sustain our work through 2024 and beyond?