'Worst crisis since 1993' according to businesses Tenerife's employers' association (CEOE) says the current downturn in the ecomony is 'the worst since 1993' and shows no signs of improvement.

Tenerife Puerto de la Cruz Apartment to sell Apartment in Puerto de la Cruz Nice apartment in Puerto de la Cruz with 135 m2 living area, 1 livingroom, 4 bedrooms,1 equiped kitchen,2 ... more details Tenerife - 24.07.2008 - The association gave the bleak news in a report unveiled at a meeting yesterday with Canarian president Paulino Rivero in Santa Cruz. CEOE boss José Fernando Rodríguez said over 35,000 jobs had been lost due to the crisis. 'Interest rate rises and the sharp fall in consumer spending have hit economic growth very hard after several years of expansion and the regional economy has to face up to the fact that growth will be slow for the foreseeable future' said the association in its report.

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