Spain in RECESSION

Yes. Its true. Spain is in recession

The Banco de España has come out with its first estimate for Q1 2012 GDP, and it has the nation's economy shrinking 0.4% on a sequential basis.


Read more: Spain in Recession

 

So where will we go from here? As Spain stock index is still getting hammered, together with major index in Europe and United States, all we can say is that this may be the start of another "Debt Problem".

 

One thing for sure, Euro will be hammered hard. Then i wonder the "invisible support of Euro" by some sovereign fund at the 1.30 level can still hold.

 

Cheers,

 

Renomic