Spain forecast to reach 25% unemployment in 2010

Good to know. At some point in the not too distant future those EUR 5m Marbella 5000 sqft mansions will go for 2m EUR as Spain will be slowly transforming back into the wasteland it was pre EU/1980.
 
That would be a 10% jump, if that 'Okun Law' is any right, it would imply a -20% GDP below potential. Sounds like a great depression
 
Quote from Daal:

That would be a 10% jump, if that 'Okun Law' is any right, it would imply a -20% GDP below potential. Sounds like a great depression
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And you thought USA was overbuilt. They were completely out of control in Spain building homes everywhere and massive corruption drove alot of it. Ruined alot of nice areas.
 
Preview of downtown Barcelona, 2015

desert_ruins.jpg
 
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