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	Podcast:		Economics, Finance and Accounting and Control
	Episode:		(Low) Double Trouble
	Category:		Business
	Duration:
	Publish Date:		2012-04-13 02:00:00
	Description:		Some countries in the European Union, Spain among them, face the double problem of a lack of competitiveness and debt, says Prof. Alfredo Pastor. The problem of competitiveness is that it requires internal differentiation and this is difficult to achieve within a monetary union. To be competitive Spain would need to devalue 20-30 percent. To pay off its debt, Spain would have to spend up to 3 percent of GDP for up to 20 years. These debts either need to be restructured or guaranteed by the resources of the Eurozone.
	Total Play:		0