The Financial Crisis in Spain

Apr 28, 2009 | 22:01 GMT


Unemployment in Spain has reached 17.4 percent, according to figures released April 24 by the National Statistics Institute. Even without the global recession, Spain's economy likely would be going through a rough patch now due to the country's overheated housing market; with the recession, it is also suffering from a banking crisis and an industrial slump.

Spain's economy is suffering from a mixture of domestic problems and the effects of the global recession....

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