With unemployment stuck at record highs and loan delinquencies surging (as we discussed here, here and here), it is hardly surprising that El Economista reports that more than two-thirds of Spaniards do not believe the “recovery” promised by Prime Minister Rajoy has been created. While Cramer ignorantly confidently espoused this morning that Spain is recovering (and with Spanish stocks and bonds back near pre-crisis levels), a massive 75% of the Spanish people believe their personal situation will be the same or worse in 2014.
Via El Economista (Google Translate),
The Prime Minister, Mariano Rajoy, and closed over the 2013 promising that the new year would be the “economic recovery”…. More than two thirds of the Spanish population momentum promised by the leader of the executive is not created.
This emerges from a survey released Wednesday by the newspaper El Mundo… a mere 17% trust the recovery next year and 8% estimated that recovery has actually happened in the latter part of 2013.
Curious that, in this study by Sigma Dos, to the Popular Party voters distrust the information provided by the Government. 47% of respondents who said they voted in the party believe that the dominant trend for next year is pessimistic and start putting the recovery in 2015.
For other years, the hunch of Spanish has gotten worse. If a year ago 30% of Spaniards saw in 2014 the year of recovery, now that number is down to 17% already cited.
With regard to the personal situation of respondents, only 20% believe their life from the economic point of view better. 75% believe it will do the same or worse.
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via Zero Hedge http://feedproxy.google.com/~r/zerohedge/feed/~3/I7edYieJNms/story01.htm Tyler Durden