Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199


Search Silver Prices
Silver Price
[Most Recent Quotes from] Our RSS Feed

Silver Updates by Mail

Enter your email address:

Follow Us on Twitter
« Dissecting Cyprus | Main | Nigel Farage - Major European Bank Runs Now Taking Place »

Spanish central bank offers grim economic forecast

These towers look a tad ominous!

MADRID (AP) — Spain will sink deeper into recession and unemployment will worsen this year as the country struggles under the weight of austerity measures taken to repair public finances and the effects of a weak global economy, the central bank said Tuesday.

The Bank of Spain said it expected the economy to contract 1.5 percent this year, compared with 1.4 percent in 2012, and only return to growth in late 2014.

The conservative government had predicted a 0.5 percent contraction for this year although Prime Minister Mariano Rajoywas pushed to admit last week that he would have to revise forecasts in April.

Spain's economy, the fourth-biggest in the 17-country eurozone after Germany, France and Italy, has been shrinking for the last 18 months.

The bank forecast the jobless rate would rise to 27.1 percent by the end of this year, from a current 26 percent. That also won't start falling until 2014, it said.

To read more please click here...

With gold, silver and Uranium stocks being out of favor one must decide if this is a problem or an opportunity. We have steadfastly refused to buy gold and silver mining stocks for the last two years and as evidenced by the HUI we feel that our decision to hold back has been vindicated. The damage done to the mining sector may not be over yet but this demise is starting to offer up some exciting opportunities in my view.

Great care will be needed in the selection process in order to generate a reasonable profit and that’s where our new venture begins. ‘Stock Trader’ has begun trading on behalf of ourselves and our much valued subscribers, all exciting stuff which we are really looking forward to, if you wish to join us then please subscribe below;

Subscribe for 12 months with recurring billing - $199

Buy 12 months of subscription time - $199

Don’t forget if you are new to investment in the precious metals sector then you can subscribe of our FREE newsletters regarding gold stockssilver stocks and uranium stocks, just click on the links and enter your email address and we will email you our articles along with other interesting posts.

PrintView Printer Friendly Version

EmailEmail Article to Friend

Reader Comments

There are no comments for this journal entry. To create a new comment, use the form below.

PostPost a New Comment

Enter your information below to add a new comment.

My response is on my own website »
Author Email (optional):
Author URL (optional):
Some HTML allowed: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <code> <em> <i> <strike> <strong>