A new week ends and global pessimism continues to rise Buenos Aires, Argentina on January 24, 2009, week which is about to finish hinted bring something of optimism in the global economy. Is that in the United States ended the Bush it was and started the mandate of Barack Obama. But the poor prospects of the major global economies have deepened and increased pessimism in international markets. Yesterday was officially known that the economy of Great Britain is in recession. With a fall in the last quarter of 2008 from 1.5%, the biggest drop in the same in the past 28 years, the British economy has accumulated two consecutive quarters of negative growth. But the worst thing for England is the high probability that 2009 is significantly worse than the 2008 recently completed.

To make matters worse, despite the considerable efforts made by the British Government to save the financial system and on the part of the Bank of England cut rates, they have failed the same reactive credit circuit. The pessimism is widespread in the British people. Both companies and consumers feel abandoned by the banking entities. The Governor of the Bank of England, Mervyn King sympathized with this feeling by stating: I fully understand the feeling of injustice that you and many other companies throughout the country must feel by being taken hostage by the banks. I share.

On the other hand, the Spanish economy continues to deepen its deterioration and the unemployment rate continues to rise. The unemployment rate in Spain ended 2008 in 13.4% of the economically active population. This is the highest level of the past 9 years and projections anticipate that it will continue to increase and may exceed 18% for 2010. Germany for its part, expects more of its gross domestic product (GDP) contraction. According to the IMF, the German economy contraeria 2.5% in 2009.