Travel Blog

Is Spain the Next EU Problem

Next EU ProblemCyprus has faded from the news after they took a large haircut on the savings of all accounts in the banks. This represented a large contribution by anyone with an account in the bank including residents and foreigners as well. It was particularly significant since it set a precedent and there is a lot of foreign money in Cypriot banks! Who is next? Some say that Spain is the next EU problem for politicians to deal with.

Spain is rumored to be the next country to cry for help. With Germany in the driver’s seat will they make the same demands of Spain? With the precedent set, you can be sure Germany will demand a great deal and the Spanish know that. They will work hard to avoid further bailouts to be sure. Germany is very powerful in the EU today because its economy is strong and resilient. Right now they get to make the rules.

World stock markets will be affected since Spain is larger than any of the other countries. We will have to wait to see what happens, but to be sure there will be lots of volatility in the markets in the coming year! so far as of the end of 2015, Spain is really not the issue for the markets and for the EU economy.

Next EU Problem – Migrants

The real issue now is all of the migrants from Syria, over 1 million people at last count. They keep pouring into Spain as well as the rest of the EU. This is the Next EU Problem and it is a big one.

Not that I am against the Syrian refugees, but what about all of the other areas in the world. There over 300,000 people living in tents in Kenya for the past couple of years and no one is talking about them. Why the Syrians and not the Kenyans?

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