Spain’s Central Bank Issues Dire Future

“MADRID (AP) — Spain’s central bank is predicting a continuing recession and mounting unemployment for the rest of 2013 as the country struggles to free itself from a broad European slowdown and repair its finances.

The Bank of Spain said Tuesday it expects the country’s economy to shrink 1.5 percent this year, compared with 1.4 percent in 2012, and only return to growth in late 2014.

It forecast the jobless rate will rise to 27.1 percent this year…”

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