If you’ve read any news in the past month, you know that Greece isn’t the only European economy that is tattering. Spain has joined the special list of Euro nations with massive economy problems. With unemployment at 24% (and 50% for the younger population), Spain’s economy is in a world of pain.
King Juan Carlos of Spain was recently quoted as saying, “We’re likely facing the toughest moment of this crisis and undergoing the most painful treatment so far. Things are beginning to improve, public accounts are in much better shape than a year ago, the trade balance is healthier and we’re starting to recover lost competitively.”
Since the King’s remarks last week, Spain has requested €100 billion in aid for its ailing banks. The EU is likely to act quickly on the request. With Greek on the brink of economic collapse, the last thing the EU needs is a crashing Spanish economy.
Which country will leave the Euro zone first? William Hill offers bets on this topic of topics! Greece is at the top of the list with 1 to 8 odds. That means you’ll have to bet 8 dollars to get one dollar. The Greek economy is so bad, it’s not even worth betting on it!
Spain is next with 4 to 1 odds. You’ll have to bed a lot of money to turn those odds into a jackpot. After Spain comes Italy with 12 to 1 odds, followed by France with 16 to 1 odds. Germany and Portugal also have 16 to 1 odds to be first to leave the Euro. Next is Ireland with 20 to 1 odds. Last but not least is Belgium with 33 to 1 odds.
Will any country actually leave the Euro zone? Who will be first? Would you be willing to bet your money on it? Stay tunes – it’s going to be a hot summer for financial markets!