A brave headline, admittedly, in light of Lex/PIGS-gate.
Justified we feel though:
MADRID, April 24 (Reuters) – Spanish unemployment soared to 4 million in the first quarter, almost doubling in a year as the recession destroys jobs more quickly than anywhere else in Europe, official data showed on Friday.
The unemployment rate of 17.4 percent announced by the National Statistics Institute is up from 13.9 percent a quarter earlier.
¿Que, Santander?
Related links:
Unemployment, Spanish edition – FT Alphaville
Property pawn: the demise of Metrovacesa – FT Alphaville