A massive bubble in the Spanish housing market is set to implode, according to Charles Dumas, chief economist at Lombard Street Research. The impact is likely to be felt beyond the country’s borders. Mr Dumas points out the whole of the Euroland grew on the back of Spanish demand until 2006. With 11 per cent of Euroland’s GDP, Spain provided one third of its incremental domestic demand between 2002-06. Artificially low interest rates and the ease of financing Spanish deficits in the common currency induced a housing bubble which is now set to burst.

Mr Dumas, a highly influential and experienced economist in markets, can answer your questions on the implications not only for Spain but other markets. He can also answer your questions broader market issues such as how far the US economy will slow this year, what will be the next move for the US Federal Reserve on interest rates, the relative appeal of Europe over the US for investors, are corporate profits at a cyclical peak, are equity markets due for a correction.