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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (673008)	9/11/2012 7:07:22 PM
From: mel221	3 Recommendations Read Replies (2) of 1578515

>> Before the recession, it was a strong economy and its government finances were in great shape. Wow! Doubling down on ignorance! The economy and government finances were doing fine as long as the bubble continued... That's how socialist economies work. Here are some more facts for you to ignore. en.wikipedia.org Interest rates fell to historic lows when the euro was launched in 1999. So Spain's banks, property developers and ordinary home-buyers collectively borrowed and fuelled an enormous property bubble. bbc.co.uk Then how did Spain get into its current mess? It all started with a housing bubble. During the 2000s, thanks to low interest rates and an influx of foreign capital, Spain had a furious boom in housing construction — houses that, it turned out, the country didn’t really need. washingtonpost.com http://en.wikipedia.org/wiki/Spanish_property_bubble

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