Spain’s Pain could Hit Here

CNNMoney reports the third quarter in Spain has seen a shrinkage of 0.4 percent in both government and household spending. The fourth largest economy in the Eurozone contracted 1.7 percent year-over-year for Q3 2012, compared to 1.3 percent in the second quarter. A 25 percent unemployment rate and the government’s plans for more austerity measures to reduce debt have led to angry protests in the streets. As MHProNews has learned, the interdependence of the global economy can have far reaching effects. In the past months, investors have responded to the ups and downs of Eurozone members when dealing in the U.S. stock market, given that the EU is one of our very largest trading partners.

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