Spain’s Economy Shrivels

  • Spain’s economy shrunk another 0.4% from the previous quarter. There economy has continue to decline for the past 5 quarters. Consumer demand also fell by 1.2% and the unemployment remains around 25%. 
  • Spain’s debt to GDP is forecasted to hit 7.3% by the end of the year. Yield on 10-yr Spanish bonds rose 0.13%. 
  • Billionaire Wilbur Ross has conveyed interest in purchasing distressed Spanish banks.