Warning, Spain Could become like Greece.
Spain reminded can be like Greece if the austerity policies being applied in that country, such interviews former Finance Minister Yanis Varoufakis, Greece.
"Spain should see the economic and social conditions of their own, and based on that, the evaluation of what is needed in their country, regardless of what happens in Greece or anywhere," said he told the daily El Pais, as reported by AFP, Sunday (2/8) night.
"The danger of becoming like Greece is always there and it would be true if a similar error applied to Greece being restarted."
Varoufakis, economist with a myriad of unusual ideas about restructuring of the debt of the euro and Greece, resigned a day after the people of Greece voted "no" against the requirements of the bailout's creditors on a referendum July 5.
However, later, the Government of Greece accepts, even tougher requirements, in a deal at the SUMMIT of euro zone 12-13 July.
With the general election later this year, Prime Minister of Spain Mariano Rajoy utilizing economic turmoil in Greece as the event to promote his own crisis management.
Rajoy's popular party, said if the new left party, Podemos Syriza Party allies — which is currently in power in Greece — to impose changes in the economy after the election, Spain could be plunged back into crisis.
Asked about the statement of the Government of Spain, Varoufakis insists Greece "has become a kind of football for right-wing politicians, who insisted on using Greece to frighten their people."
Spain rise in 2013 from the economy over the past five years been disturbed and the Government predicts GDP will grow 3.3 percent in 2015 — more than twice the estimated average for the countries of the eurozone.
Madrid target in 2016 to bring the deficit below the three percent level of economic output is needed in Europe.
It is estimated the country's public debt will reach 98.5 percent of the economy this year, compared with the Greece's debt ratio is more than 177 percent.
But the unemployment rate in Spain is still very high, more than 22 percent, the second highest in the eurozone after Greece.
Rajoy predicted Spain will create one million jobs overall in 2014 and 2015. https://www.mql5.com/en/signals/120434#!tab=history
