So wages are high just like USA and Australia you say.....
Wrong.
Spain Minimum Monthly Wage 1999-2016 | Data | Chart | Calendar | Forecast
Minimum Wages in Spain increased to 764 EUR/Month in 2016 from 756.70 EUR/Month in 2015. Minimum Wages in Spain averaged 644.99 EUR/Month from 1999 until 2016, reaching an all time high of 764 EUR/Month in January of 2016 and a record low of 485.71 EUR/Month in December of 1999. Minimum Wages in Spain is reported by the Eurostat.Let's call that $1150 AUD per month.As for the US,high wage states have minimums around $9 USD per hour.
So,like it or not Australia has very high labour costs....and they will fall.
Bailout latest article re Whyalla, page-16
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