25% Unemployment Isn't The End of The World, Either

But it probably doesn't feel that way if you happen to be living there:

German Finance Minister Wolfgang Schaeuble was quoted as telling the Welt am Sonntag newspaper that Spain's short-term financing needs are "not so big."

Asked about talk that Spain could soon make an application for the eurozone rescue fund to buy bonds, he replied: "There is nothing to this speculation."

"The high interest rates are painful and they create a lot of concern---but it's not the end of the world if one has to pay a few percent more at a few bond auctions," Schaeuble was quoted as saying.

---Vitelius