Tuesday, October 30, 2012

Spain recession drags on with no aid in view

Spain fell deeper into recession in the third quarter and prices rose sharply in October, piling pressure on the government to revive a paralyzed economy as it stalls over requesting aid.

Prime Minister Mariano Rajoy is in no hurry to apply for a politically humiliating financial rescue that would kickstart an ECB bond-buying programme and ease financing costs. But the worsening economy, along with spreading civil unrest, may force his hand.

http://www.reuters.com/article/2012/10/30/us-spain-economy-idUSBRE89T0SR20121030