Despite the obvious concerns regarding Spain's means to fund the recapitalization on its 3rd largest bank Bankia, there are other areas building even stronger anxiety. Some of these include approximately 2 million unoccupied homes, growing unemployment rate of 25%, which has already reached its peak in Europe, continuously slumping economy as well as declining by 17% municipal budgets. Moreover, Desmond Lachman believes that Spain being the 12th biggest economy in the world faces the risk of being too large to rescue, and ING Bank's economist states that Spain's overall situation will most surely deteriorate to a greater degree. Even though prior to 2008 Spain was a top economic model, its household debt grew three times during the respective year. Consequently, the recession may force Spain to follow the footsteps of Greece, Portugal and Ireland in obtaining a bailout loan.