Spain Takes a Backseat

eurozone2013

The Eurozone will continue in recession through 2014. Critics point to Spain, France and Portugal as the worst economies in Europe. Spain promised to cut their debt to 6.3 percent of national production, but ended the year with 10,2 percent of debt.

This year Spain will have a debt of 6.7%, rather than the 4.5 % of national production agreed upon with EU ministers.

VOCABULARY:

to continue: to go on, to happen again and again

recession: a bad economic situation of debt, inflation, unemployment, etc.

unemployment: not having work

inflation: a rise in prices of basic needs: food, home, clothing…

critics: people who analyse or have an opinion about something

the worst: superlative of bad > bad, worse, the worst

to cut: to reduce

debt: the amount of money you owe or need to pay someone / some company

ended: to end, ended, ended –> finished

national production: level of production across a country — amount of money generated by companies from sales

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About Paul Gibson

Economist, financial risk analyst, business English coach and entrepreneur...always disposed to new business ideas and offer support for new business plans. Specialist in e-commerce and marketing.
This entry was posted in A1 - Beginners English, A2 - Waystage English (Pre-Intermediate) and tagged , , , . Bookmark the permalink.

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