O principal mercado das nosas exportações está pôdre

Edward Hugh no postal "Spain's Economy Shrinks At A 7.2% Annual Rate In The First Three Months Of 2009" escreve:
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"The current recession is likely to be a long one. The current financial crisis, which, as I explained in my last post, has simply served to bring into focus the inherent unsustainability of the previous growth model: deep housing crisis, high indebtedness of the private sector, weak price competitiveness, very high unemployment… S0 as I say, ECB and EU Commission help will need to be on their way, and massive structural reforms now seem inevitable.Despite some recent positive development (decrease in interest rates and prices, fiscal stimulus measures, slight improvement in confidence, ECB purchase of cédulas hipotecarias…),
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Spain will not recover even as other economies begin to breathe again. The worst year undoubtedly could be 2011, (Moi ici: please "rewind" and read again 2-0-1-1 o pior ano, ainda não se fala em retoma) and the unemployment rate by that stage could reach anywhere between 25% and 30% of the labour force if you accept the March 17.5% number as good.
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Bottom line, a complete nightmare, with the only bright spot being imminent control of the political system being assumed in Brussels and Frankfurt, since along with the economy the political "automatic stabiliser" system also seems to be broken." (Moi ici: ver Daniel Bessa no caderno de Economia no Expresso da semana passada)