The unemployment figures for Spain just released seem not so bad as was expected,38,800 against 54,000. This indicates a growing confidence in Prime Minister Mariano Rajoy's much-awaited strategy to create a turnaround in the fortunes of Spain, which are of course overdue.
The properties are being marked down to market value by the banks, and consolidation by merger of banks seems a solid way to improve things for a wider customer base.
This will bring much needed stability to the housing market and servicing of mortgages across the regions in Spain. Add to this the truce announced by ETA and which is actually working, and peace and harmony reigns in Spain.
Now the situation is of housing at good prices, an able and cheerful people who enjoy to be busy with work as much as being tranquillo and enjoying the beer, wines, food and weather.
You have a modern European economy with everything going for it, whose one main problem seems to be the high unemployment.
Maybe a clue can be found in the growing strength of the U.S. economy, and the measures announced here in U.K. by Deputy PM Nick Clegg of the creation of jobs for 410,000 youngsters between 16 and 24.
Signor Rajoy has asked for a free hand. I believe he will play a winning hand for his people, for that I pray.