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George Liu
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I am the Chief Financial/Economics Columnist of The Daily Political Review, a Monitored Contributor for FOREXPROS, a Seeking Alpha Certified Contributor, as well as a paid blogger for The Motley Fool Blog Network. I also currently serve on the Board of Directors for Ureka Co. Currently, I am... More
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  • Spain Breaks Pension Pledge 0 comments
    Dec 2, 2012 7:23 PM | about stocks: EWP, EPV, UPV

    Due to the tightening of budgets and attempts to meet deficit goals as part of a broader set of austerity measures, the Spanish government under Prime Minister Mariano Rajoy will not be adjusting the value in pensions to account for inflation as it has pledged will continue to happen. Thus, instead of Spanish pensions increasing by ~2.9% (the current inflation rate), they will instead rise 1-2%. This action will save Spain 3.8B euros but will also represent a detriment to approximately 9 million retired Spaniards.

    Stocks: EWP, EPV, UPV
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