Why Read: Because economic risk in the Eurozone and elsewhere appears to be escalating, and what is said here describes what may prove to be the ‘biggest crack yet in Humpty Dumpty’s shell’.
Commentary: It was some months ago that I began warning in this Newsletter that Spain was the country watch carefully in the context of its unemployment rates, federal government deficits, GDP and housing problems. At the time Spain didn’t seem to be the focus for most commentators that it was, and continues to be, for me.