"Courtesy of Google translate and my friend Bran who sends links nearly every
day from Spain, please consider Spain's net foreign debt for the first time exceeded one trillion
euros
Note: The Google translation says billion. The correct translation is trillion, and I modified the references below.
Note: The Google translation says billion. The correct translation is trillion, and I modified the references below.
The latest figures from the Bank of Spain show that the net debt-the difference between what foreigners due to Spain and which in turn owes Spain abroad, not only not reduced but increased. In fact, at the end of the second quarter of 2011 for the first time broke the trillion euro barrier. In relative terms, this means a foreign debt equivalent to 93.7% of GDP, six points more than in 2010.at http://globaleconomicanalysis.blogspot.com/2011/10/spains-net-foreign-debt-exceeds-one.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+MishsGlobalEconomicTrendAnalysis+%28Mish%27s+Global+Economic+Trend+Analysis%29
International Investment Position of Spain was, in particular, at 1.02 trillion euros, the highest ever level. In gross terms, external debt also has picked up , to 1.77 trillion euros, the second worst record in the series, surpassed only very slightly, and by data from the first quarter of 2010. The cause? The increased borrowing by the public and the financial system..."
