Economics

Euro Hurting Continent's Recovery

First Greece put the euro in jeopardy, now Spain could spell the end for the common currency, observers tell The Wall Street Journal. Fighting 19 percent unemployment, Spain can't devalue its currency to attract tourism or increase exports because the euro's value is revved up by Germany's strong economy. Adding insult to injury, it can't cut interest rates because those decisions are made abroad by the European Central Bank. "Spain is the real test case for the euro," one expert told the Journal. "If Spain is in deep trouble, it will be difficult to hold the euro together...and my own view is that Spain is in deep trouble."