In an interview today Spains economy minister Pedro Solbes admitted that the economy was in a worse state than predicted, but will not enter a recession.

Read it here,

http://uk.news.yahoo.com/afp/20080803/tbs-spain-economy-5268574.html

Spanish inflation jumped to a new record high of 5.3 percent in July over the same time last year due largely to the soaring price of oil. time for you bike

There basing the prediction of no recession on the fuel prices stabalising, like everybody else then.

Is the EU Euro zone better equipped to deal with recession, well the UK Inflation is at 3.8%, and the same factors are effecting the UK as the rest of Europe.

The only winners in the Euro is Germany at 3.3% and since the Germans are happy with this figure, there unlikely to implement changing rates.

Imagine if the Germany Inflation rate raised to 5.3%, Spain would be 7.3%, gulp.

My Sardines are gonna start costing more, thats a reason to move, maybe to some small island in the Pacific.

small island in the Pacific. will cost aswell and no eu was ready to deal with it

There are plenty of small habited Island`s.

I`m thinking small shack, coconuts and lamb style living.No Taxes, no Bills, No cars, Global bloody warming, Nada.

Thats what man was designed for, living on his own, using basic skills to survive.

Greed has made us what we are today, It`ll be nice to abolish all the tools that make greed a better option.

I seem to get the feeling the human race is about to go backwards in order to survive.

Only worry would be a Tsunami and which surf board to use.

you have to a tea there all planed out