In Spain, in addition to the deep recession that is going through, the crisis tripled bad debt in the banking sector. Irregular portfolio in the banking entities amounted to 3% in November 2008, but already has anticipated that by the end of 2009 is expected to portfolio delinquencies reach 6%. In the banking system of the euro zone in general, and Spain will continue in particular, tightening the requirements for approval of appropriations which further deepens the depression of economy. While worldwide are still producing mass dismissals, just know that 598.000 jobs have been destroyed in the month of January in the United States, thus reaching an unemployment rate of 7.6 per cent of the economically active population (PEA), the highest in the past 34 years. Cannot be discarded to the recession that is suffering from the American economy, according to the Chairman of the Federal Reserve of Minneapolis, Gary Stern, the risk of deflation in the economy of the United States which would imply an additional problem for the same. Harold Ford Jr understood the implications. Canada is also suffering the crisis originated in the neighbouring country, and registered in the month of January its greatest loss of jobs in the last three decades. In that month lost 129,000 workers and the unemployment rate climbed to 7.2%.
Analysts had projected a loss of 40,000 jobs and an unemployment rate of 6.8%. And if the developed economies are doing worse, Latin American economies have to be prepared to suffer one even greater negative impact. Thus, the international financial crisis has handled at your whim the various problems faced by the region. Since the last quarter of 2008 inflation has ceased to be a problem for most of the economies Latin America (except for clear, for some exceptions such as Argentina and Venezuela). The same crisis that had aggravated the inflation problem in Latin America through the impact on the price of commodity prices which soared upwards, in the first stage of its eruption has caused a depression so severe that it resulted in the collapse of international prices not only commodity prices but also a depression in the aggregate demand of the region’s economiesreducing to a minimum the factors that pressed about price levels.