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"Alert" in EU over Spain and Britain

03. March 2010. | 09:16

Source: ANA

After Greece, analysts are highly concerned over Spain and Britain's economy. With public finances having gone into the red Britain announced that its currency dropped to its lowest in 12 months while in Spain unemployment rate has risen to 19%, the highest in eurozone member states

After Greece, analysts are highly concerned over Spain and Britain's economy. With public finances having gone into the red Britain announced that its currency dropped to its lowest in 12 months while in Spain unemployment rate has risen to 19%, the highest in eurozone member states.

British deficit is on the same track as Greece as both are over 12% writes British daily "Telegraph".

After deep recession, anaemic recovery of British economy gives rise to concern among its Europeans partners.

British currency losses against the dollar are higher compared against 5.4% losses of the euro currency. Data showed speculators' negative sterling bets against the dollar.

From Annovero technological exhibition, German Chancellor Angela Merkel appealed for support to euro currency. Span's Prime-minister was attending the event while world mass media writes about the economy of Spain.

Economists high concern is that Spain is not a small economy as Greece. Problems in euro will be apparent if crisis is not faced in Greece but in the case of Spain experts speak of destruction. Spain's deficit is the sixth highest at global level while unemployment rate has risen to 18.8% and number of unemployed over 4.1 million people.

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