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Price freeze in Argentina creates new turmoil, Greece and Spain on the verge of economic collapse


 

 

 

Argentina is facing a new crisis after the country’s president ordered a price freeze on food products. This price freeze was directed at the largest food retailers in the country and is now having an adverse affect on the nation’s economy. Natural News reports that this order may create a shortage of food in Argentina and may even give rise to civil unrest. Food importers would be compelled to stop most of their imports as it would be impossible to earn profits by selling food at the price set by the government. This is also going to give rise to large scale black market of food.

http://www.naturalnews.com/039030_Argentina_Cristina_Kirchner_price_freeze.html#ixzz2Kbcce65z

 

On the other side of the Atlantic, countries like Greece and Spain are also in no better shape. Both countries are suffering from acute economic problems and are on the verge of economic collapse. Economists opine that both countries have to go through even more critical conditions before it starts getting better for them. In Greece, 48 percent of its citizens under the age of 24 are unemployed. Many are describing this as a ‘hell’ and are of the opinion that it is going to continue for a long time. Even the austerity measures that are the only way of getting out of the economic crisis are going to harm the Greeks badly.

 

Natural News reports that Spain would need to inject something between 40 and 100 billion Euros into its banks in order to avoid bankruptcy. Spain’s fiscal crisis has worsened over the last few years and now it is anticipated that Spain may have to ask for assistance from the Euro Zone to recapitalize its banks. International Monetary Fund anticipates that Spain’s economy would contract by 1.6 percent and the unemployment rate would reach 26 percent by the end of 2013. The overall scenario is enough to make even the most optimist person worried.

http://www.naturalnews.com/036135_Greece_Spain_economic_collapse.html      

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