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Over the weekend, Spanish Prime Minister Jose Luis Rodriguez Zapatero named the country's first majority female cabinet, with nine of 17 ministries headed by women.

Among his appointments was 37-year-old Defence Minister Carme Chacon, the government's former minister for housing and a constitutional law professor who studied in Toronto and Montreal, and is expecting her first child.

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The adoption of the Euro effectively halved Spain's interst rates overnight, below Spain's inflation rate, fuelling an explosive credit boom. Now,the Spanish housing market is collapsing - losing 20 - 25% of value.

The big Euro banks are bailing out of Spain and the Spanish government is spending 50 billion Euro on infrastructure to prop up the economy while ignoring the current account deficit.

Since Spain is part of the EU, it cannot devalue its currency to weasel its way out of its profligate spending so the Spaniards are in for a world of hurt.

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Originally posted by jester:
Good place to buy property once inflation forces the Euro to earth.

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