Spain Will Exit The Eurozone First—This Year!

[Asheron]

Unemployment in Spain is 24%. Youth unemployment (under 24 years old) is a shocking 53%. Both figures will rise during 2012 as the economy continues to contract. An unemployment of 30% by year’s end is within the realm of the possible. Hell, within the realm of the likely, even

Total government debt is projected to be 79.8% of GDP in 2012—that is, €800 billion. Much more troublingly, the debt last year was “only” €680 billion—but that was still 21% higher than in 2010. So at this rate—assuming the status quo remains unchanged, and without factoring in the contraction of GDP—in 2013 the projected Spanish government debt could well rise to 90% of GDP.

(Throughout this Supplement, when discussing “government debt”, I am referring both to Madrid’s and to the autonomous regions’ consolidated debt situation.)

Private debt is an additional 75% of GDP—and let’s not even start talking about the delinquency rates—while the banks have a capital shortfall estimated at a mere €78 billion.

On top of all this—as if “all this” weren’t bad enough—is the issue of the outstanding Spanish debt—

http://gonzalolira.blogspot.fr/2012/04/spain-will-exit-eurozone-firstthis-year.html

Edited April 8, 2012 by Asheron

[trevor_1977]

No one is going to leave to EU or the EURO , this will drag on a very long time but the Euro will survive and in it's current form .

[Game_Over]

No one is going to leave to EU or the EURO , this will drag on a very long time but the Euro will survive and in it's current form .

[Democorruptcy]

I'll go for The Netherlands as first country to exit.

[Trampa501]

According to the odds on another thread, Spain was 16-1 to leave the Euro first, whilst Germany was 6-1 !!!!

Actually they may find it easier just to keep "the Euro" but have a local version (not the current code that people draw attention to) that floats against the main Euro. An ESP-EURO or a DU-EURO perhaps?