Mike Shedlock

The employment and pay situation in Spain is so bad that 33% struggle to pay their bills. More importantly, 25% would consider leaving the country for better opportunities.

Via translation from La Vanguardia, please consider One in three Spaniards have no money after paying their bills.

One in three Spanish claims to have no money left after paying the bills, according to a report on consumer payments. The study further reveals that 25% would be think of emigrating because of their economic situation. The same percentage say do not have enough money for a decent life.

Those are the most conclusive findings in the study Consumer Payments 2013, made by the Credit Management firm Intrum Justitia which surveyed 10,000 consumers from 21 European countries with the aim of understanding their payment behavior.

In regard to Spain, the percentage of citizens who say they have no money after paying the bills is higher than the European average, which stands at 26 percent, although some countries like Greece, Estonia and Hungary reach 40 percent.

If they have to prioritize in order to pay bills, the Spaniards choose to pay for the latest mobile phone and internet purchases. And if they can get savings on their household budgets, 79% do so by reducing leisure and clothing expenses.

Another revealing statistic is that 25% of Spaniards say they do not having a sufficient amount of money for a decent life. Estonia leads this ranking with 52%, followed by Hungary with 47% and Greece with 44%.

Eight in ten think that the Government lacks good financial control, compared to an average of 60 percent for the EU.

Trapped in Spain

25% would leave for better opportunities, but where would they go? The same question applies to Greece, Portugal, and Estonia.

The answer is nowhere. There are too few jobs elsewhere, and plenty of xenophobia in France and other countries that are struggling as well.

Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com

Read more at http://globaleconomicanalysis.blogspot.com/2013/11/25-of-spaniards-would-consider-leaving.html#uopu6wzIBPZ9FueO.99


Mike Shedlock

Mike Shedlock is a registered investment advisor representative for Sitka Pacific Capital Management.