Share

Spain in 'crisis of enormous magnitude'

Madrid - Spain's "terrible" unemployment shows that the country is in a "crisis of enormous magnitude," Foreign Minister Jose Manuel Garcia-Margallo said Friday.

The unemployment rate is 24.2%.

Garcia-Margallo called on the European Union to help Spain boost economic growth. "If we are doing badly, they are doing badly. This is like the Titanic. If we drown here, even first-class passengers will drown."

He said the government's spending cuts were necessary, but that austerity "alone is not enough."

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
19.00
-0.3%
Rand - Pound
24.09
+0.1%
Rand - Euro
20.61
-0.1%
Rand - Aus dollar
12.37
+0.4%
Rand - Yen
0.13
+0.5%
Platinum
904.45
+0.2%
Palladium
999.75
-0.6%
Gold
2,153.10
-0.3%
Silver
24.91
-0.5%
Brent Crude
86.89
+1.8%
Top 40
65,887
-0.6%
All Share
72,097
-0.5%
Resource 10
53,271
-0.1%
Industrial 25
99,407
-1.1%
Financial 15
16,625
+0.0%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders