Friday, Feb 22, 2013

Debt is a big stumbling block

Reuters: Spain, France to miss debt goals as euro zone stays in recession

"The euro zone will not return to growth until 2014 and struggling Spain and France will be among those who miss debt-cutting targets as a result, the European Commission said on Friday. Paris and Lisbon said they would seek more time from Brussels to reach their deficit goals. Madrid has already indicated the same".

Posted by alan @ 10:36 PM (795 views) Add Comment

1 Comment

1. Striebs said...

Projects in Spain are delayed forever .

Both countries import around 99% of the hydrocarbons but neither country is prepared to use hydraulic fracturing to exploit their astounding unconventional gas (Spain) and unconventional oil resources (France) .

France and Spain have been reliant on transfer payments and unsurprisingly Spain is wracked with corruption .

Can Merkel convince the Germans they should work harder for less so the Southern Europeans can sit on their backsides all day ?

If not the EU cannot work longterm . Perhaps the Southern Europeans will chose a higher quality of living over a higher standard of living and the work necessary to achieve it

Saturday, February 23, 2013 10:29AM Report Comment
 

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