Debt crisis: Spain’s jobless flee to Argentina
Desperate Spaniards are fleeing in their thousands to set up new lives in Argentina, preferring rampant inflation to the prospect of searching for a job in a country with the highest unemployment rate in the industrialised world.
By Szu Ping Chan
07 Oct 2012
Official figures show that more than 65,000 Spaniards have fled to Argentina since the onset of the 2008 financial crisis, with another 25,000 settling in Mexico.
Faced with a jobless rate of close to 25pc, many would rather live in Argentina, with an estimated inflation rate of 24pc and tightening trade barriers, than remain in crisis-hit Spain.
“I prefer inflation to joblessness,” Erika, 31, who prefers life in a Buenos Aires surburb without proper sewerage, told the Sunday Times.
Kim Vidal, who saw his wage as a former commercial director in Barcelona slashed from £2,400 a month to £970, also prefers life in Argentina to Spain.
“People welcomed me with love,” he told the paper, “the news from the old country is so sad”.