Since Portugal has become the latest EU country in need of a bailout from the European Union, eyes have turned to Spain with the question being asked; “Is Spain next to need a bailout?”.
According to the economic minster Elena Salgado, Spain is not going to be the next country needing help and any economic bailout has been ruled out. Salgado claims that Portugal needing economic help has no immediate bearing on Spain needing the same and that the Spanish economy is more powerful and less at risk than the Portuguese economy. Spain would widely be expected to be next in line after Portugal to request a bailout
The expected growth in the economy in Spain, the 4th largest economy in the eurozone, has been reduced to a more conservative estimate of 2.3% from 2.5% for 2012 and unemployment levels are still at a record high with protests by young Spaniards expected this week across Spain but the domino effect is not expected to get to Spain.
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