The King of Spain is stepping aside, to let his son take over the throne.
King Juan Carlos, age 76, will “abdicate” the throne he has occupied since 1975.
Tag: Spain
Eating Like They Do In The Mediterranean Is Good For Your Heart
Eat like they do in the Mediterranean and you’ll live to a ripe, old age. Or at least a little longer than you might otherwise have done.
A new study has found that people who eat a Mediterranean diet are less likely to suffer heart-related problems like a heart attack or a stroke.
The Mediterranean region comprises the 18 countries, plus Portugal, that border the Mediterranean Sea. It includes Spain, Greece, Italy, France, Egypt, Israel and Turkey.
People there eat lots of extra-virgin olive oil and nuts as well as fruit, fish, chicken, wine, beans and salads. They tend not to eat a lot of baked goods or pastries.
A Plan To Help Eurozone Countries In Debt
Europe’s central bank thinks it has a good plan to help countries like Greece, Spain and Italy. Those countries are struggling because they took on too much debt.
The idea is that the European Central Bank will agree to buy some of the debt.
In return, the troubled countries must agree to spend less money and to put their finances in order.
When countries lend money to other countries, they receive small payments called interest.
When a country borrows too much money, some of the people who lent the money begin to worry that they won’t get their money back. So they demand higher and higher interest payments.
This puts pressure on countries that are already having trouble paying back all the money they borrowed.
It pushes their debt even higher.
Spain Asks For Financial Bailout
Last week Spain’s Prime Minister asked for $125-billion to help the country’s failing economy.
Prime Minister Mariano Rajoy said the country needs the money to save its banks.
For months the country has tried to avoid seeking outside help.
There are 17 countries that use the Euro as their currency. Spain is the fourth of these countries to request a bailout. In this case a bailout is when other countries lend a country money to help prop up its economy.
Because its economy is so large, the need for a bailout is troubling for the European union. For instance, the Spanish economy is five times larger than that of Greece (another country that is suffering from economic problems).
Usually countries’ economies affect each other. That’s because they buy and sell things from and to each other. So if one country’s economy isn’t doing well, it affects other countries.
More Money Problems For Greece
The debt problem in Greece is causing problems for the country again. And, once again, there is fear these money problems could spread to other countries around the world.
This time, some people in Greece have begun taking all their money out of the country’s banks because they’re worried about what will happen to the value of their money if Greece stops using the euro.
The euro is a currency, like the dollar, and it is used in many countries in Europe.
But Greece has borrowed a lot of money that it is having trouble paying back, and there have been talks about whether Greece should be allowed to keep using the euro.
What’s Happening In Europe?
A number of countries in Europe are having problems with their finances and their leaders.
This year, four prime ministers in Europe have quit their jobs or been forced out of office.
That’s because their countries have spent more money than they make and now they can’t pay their debts.
Some of the countries are making deals with other countries in Europe and the International Monetary Fund for a “bailout.”
A bailout is a loan to a country to keep it from going bankrupt.
The richer countries agree to put in more money to save the poorer countries.
