If Greece leaves the Eurozone how would this affect Spain?

The Rower wrote:
I don't think Spain has a particularly big exposure to Greek debt, so again it should not affect Spanish taxation.

Not a professional, just a personal view.

Unfortunately, Spain has the 3rd highest exposure to Greek debt in the EU after Germany and Italy.
Spain's exposure is around €25 billion (yes, billion) which could cause a big dent in the fragile recovery taking place here.

Meanwhile, the pound to euro exchange rate has hardly moved since the Greek no vote.
Most "experts" seem to think the euro will drop against the pound but both the euro and pound will drop against the US dollar.

marcliff I didn't realise the Spanish exposure was so big,

I actually believe the figure now appears to be E42.3 Billion. http://www.theguardian.com/world/databl ... nd-to-lose As thats 4% of Spain GDP, that is a significant amount that will need addressing. Its anyones guess how the Government will look to fill that black hole. I guess an expansion of bigger fines for every minor infraction wouldn't come as great surprise.