Please note if Greece 10-Year bond would not get back below 7.00% with in next couple weeks it would ignite serious problems in Euro region. France and Germany and Spain would feel the damage the most.Spain 10-Year Government Bond Technical Analysis Chart:
As I mentined before, Greece crisis is not as important as many believe it's a regional problem. You should become nervous if Spain or Portugal become next Greece. In my April 12th article, I wrote about the possibility of credit downgrade of Spain. S&P just did what I been talking about. On April 28th, Standar & Poor's downgraded Spain’s credit rating from +AA to AA. Please note if Spain losses it rating to +BB; you should run for hills.Spain economy is much bigger than Greece and will cause a systematic risk to the global economy.
Spain Economy Fact sheet:
GDP (purchasing power parity):
$1.368 trillion (2009 est.)
country comparison to the world: 13
$1.419 trillion (2008 est.)
$1.406 trillion (2007 est.)
note: data are in 2009 US dollars
GDP (official exchange rate):
$1.466 trillion (2009 est.)
GDP - real growth rate:
-3.6% (2009 est.)
country comparison to the world: 173
0.9% (2008 est.)
3.6% (2007 est.)
GDP - per capita (PPP):
$33,700 (2009 est.)
country comparison to the world: 38
$35,000 (2008 est.)
$34,800 (2007 est.)
note: data are in 2009 US dollars
GDP - composition by sector:
agriculture: 3.4%
industry: 26.9%
services: 69.6% (2009 est.)
Labor force:
22.97 million (2009 est.)
country comparison to the world: 27
Labor force - by occupation:
agriculture: 4.2%
industry: 24%
services: 71.7% (2009 est.)
Posts
