Spain’s construction bust and rigid labour markets seem certain to condemn it to years of economic struggle and high unemployment, yet Michigan is scarcely in better shape.
It is bad enough that recklessness in some areas of banking and finance led to economic boom and bust.
银行和金融业某些领域的鲁莽行为导致了经济的荣衰，这已经够糟糕了。
3
months of poor economic conditions have eroded credit-worthiness, while the housing bust has left a quarter of mortgage borrowers with negative equity.