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The crisis and unemployment

I was just reading an article in El País the other day that said that Spain, just the country alone, accounts for two-thirds of the current “Euro Zone” unemployment rate.  In other words, unemployment is crazy high in Spain in comparison with other countries that use the Euro due to the current financial crisis, construction speculation, and other factors. 

I am starting to see some of the effects of the crisis here in Spain.  For instance, I’ve noticed when I’ve been out on Friday and Saturday nights that less people seem to be frequenting the bars and those who do still go seem to buy less (at least that’s what’s happening here in Burgos).  Also, I waked past the local unemployment office the other day and there was a HUGE LINE of people waiting out front… you never used to see that in a city the size of Burgos.  Continue reading this post…

Financial crisis in Spain??

Signs urging customers to buy in Burgos.

Signs urging customers to buy in Burgos.

Recently, the city of Burgos launched a new ad campaign to get people to “buy, buy, buy” in the downtown shops.  Above is one of their new signs, which have been strategically placed throughout the city.  The signs must be working because shops in Burgos are booming and shoppers are out at practically all hours of the day looking for deals (except during siesta time, that’s sacred). 

I sometimes ask myself how it can be possible that people are out shopping like never before while Spain is in “Financial Crisis Mode.”  The unemployment rate in Spain is on the rise and people on the street generally “complain” about the crisis all the time, yet everybody seems to still be “buying up a storm.”  Where’s the money coming from?  Continue reading this post…