Well today it was reported that the Spanish Recession has ended. Spain posted 0.01% growth [in Q3] from the last quarter, thus OFFICIALLY ending the Spanish recession. Here’s a good read on the topic from the WSJ.
MADRID—Spain’s central bank Wednesday said a two-year recession in the euro zone’s fourth-largest economy ended in the third quarter, when Spain posted 0.1% growth from the previous quarter, in line with government projections. A return to growth for the currency area’s fourth-largest member is likely to feed hopes that the euro zone’s economy is finally healing[…]
There’s more but that’s what’s important. How does this affect the American Markets 3000 miles away? Well, many of Spain’s creditors were American, and being able to breathe a little sigh of relief that they might get some of their money back encourages more spending, driving the market up.
Well that’s some good news… But not much consolation for the people who lost their jobs
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You’re right…. But they’re out, and the market acted accordingly
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