RealNews

Spanish prime minister admits severity of slowdown

Prime Minister José Luis Rodríguez Zapatero on Monday acknowledged Spain was facing a much sharper economic downturn than originally thought and predicted activity for 2008 would grow by under two percent, below official forecasts. Economy Minister Pedro Solbes has made mention of the word “crisis” to describe Spain’s rapidly slowing economy almost a taboo, but Zapatero Monday said the semantic debate was of “little practical” importance. Full Story

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