Plunging Economies of World Causing Worries
It is believed that in the coming time, Spain might be in need of bailout as the global markets are continuously declining. Concerns over the global financial markets have pushed Spain to keep the borrowing rates high.
Meanwhile, economists have hinted that in the coming time, Portugal would be in need of bailout plan as Greece is at present. The global financial crunch is not in a mood to get better as gradually it is victimizing various countries of the world.
The economists have further warned that in the coming time, rest of the countries might also face the same situation. It is estimated that if the financial condition of Portugal and Greece is improved by 2013, then whole Europe might be in need of financial aid.
The financial crunch faced by Spain and Italy forced many to flee to countries like Greece, Portugal and Ireland. Italy is already in debt crisis. Its financial condition is not much better than that of Greece. In Spain, since 2008, the prices of property have been falling down causing concern to the country.
It is forecasted that this year, the economies of Spain, Portugal, Italy and Greece would plunge, while Ireland would show some progress and improvement.
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