Twitter / ChrisMooney_: The scariest chart in the ...
The scariest chart in the world today http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/07/23/the-scariest-chart-in-the-world-today/ … via @ezrakleinWashington Post's Ezra Klein: The scariest chart in the world today
That’s Spanish bond yields. And they’re going up. Way up.Washington Post, 2009: Spain's Answer to Unemployment: Go Greener
Spanish bond yields are probably the key indicator for the future of the euro. Think of the euro zone as a single political body afflicted by a cancer. Greek bond yields are where the cancer began: It’s bad, and if the cancer can’t be beaten into submission, the euro zone might have to amputate Greece. That would be painful and horrible, but it can be done. Spanish bond yields are where we see whether the cancer has metastasized into the vital organs: If the cancer overtakes Spain, then the euro is done. There’s no path to saving the euro zone that doesn’t include saving Spain.
Here on the sun-drenched and windy Iberian Peninsula, Spain thinks it has an answer: create new jobs and save the Earth at the same time.
Green jobs have become a mantra for many governments, including that of the United States. But few nations are better positioned -- or motivated -- to fuse the fight against recession and global warming than Spain. The country is already a leader in renewable fuels through $30 billion in public support and has been cited by the Obama administration as a model for the creation of a green economy. Spain generates about 24.5 percent of its electricity through renewable sources, compared with about 7 percent in the United States.