SPAIN’S economy has failed to grow at all in the third quarter of this year, prompting fears that it may be next in line for a bailout.
Despite the economy expanding 0.8 per cent compared with the same period last year, Spain is unlikely to meet the government’s original forecast of 1.3 per cent growth amid increased borrowing costs.
The European Commission has stated that it expects the deficit this year to be 6.6 per cent of gross domestic product (GDP) in contrast to Spain’s target of six per cent.
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Spain doesn’t need a bail out it just needs to leave the Euro. Spain’s debt unlike a lot of other countries is mainly internal which wouldn’t make it so hard to leave unlike say Greece.