Monday, July 23, 2012

Markets React to Problems in Spain

Bad economic news in Spain has not been good for international stock prices.  Borrowing costs for Spanish debt were over 7% on Monday.  The country is still in recession, and it is expected to last into 2013.  Tax income falls during recessions and puts more stress on the central government which has to provide assistance to its regional governments as well as its banking system.

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