Reality Check

Espanistan

5 posts in this topic

Hi,

I thought I would share this great little video with you which comically explains what has happened in Spain over the past ten years or so.

It has English subtitles so enjoy! :D

You tube link to bigger size screen if you need it!

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I thought I would share this great little video with you which comically explains what has happened in Spain over the past ten years or so.

Superb - think I should email the link to our LL in Espanistan!

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Very good. I hope the expats who seem to blame Zapatero 100% for the current crisis, see this, and realise that the housing boom was helped along initially by measures that Aznar (PP) carried out. As bad as each other...

The lesson is clear (apart from not letting bubbles to get out of hand). Don't let one sector, in this case construction, dominate the country's economy. Spain is actually doing well in other areas eg car production, agricultural technology, tourism, food and wine exports, but the scale of the construction collapse has badly affected the overall economy.

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Very good. I hope the expats who seem to blame Zapatero 100% for the current crisis, see this, and realise that the housing boom was helped along initially by measures that Aznar (PP) carried out. As bad as each other...

The lesson is clear (apart from not letting bubbles to get out of hand). Don't let one sector, in this case construction, dominate the country's economy. Spain is actually doing well in other areas eg car production, agricultural technology, tourism, food and wine exports, but the scale of the construction collapse has badly affected the overall economy.

You are contradicting yourself.

If Spain was doing quite well in other sectors, then the collapse of construction should not affect them that much. Unless, in reality those other sectors were being held up by the construction bubble - which they were.

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You are contradicting yourself.

If Spain was doing quite well in other sectors, then the collapse of construction should not affect them that much. Unless, in reality those other sectors were being held up by the construction bubble - which they were.

There is no contradiction at all, as you should well know. It is quite possible for sectors to continue to do well, and even increase their exports or expansion abroad (ask cava producers or the Indra technology exporters or the people at Zara), but have a negligible effect on the high unemployment rates. The construction and housing boom was allowed to get too big, and so now home demand is low.

Spains success abroad

Spain's successful companies are committed to staying in the country, but are unlikely to generate many new jobs for Spanish workers as they expand overseas.

Concerns about the country's ability to grow and increasing moves to manufacture and develop new products in emerging markets such as Brazil and Russia means the unemployment rate could remain around 20% for several years to come.

Businesses in some of Spain's fastest growing sectors, such as technology and renewables, said they expect to reduce or at best maintain their workforces as they expanded into new markets.

The development is likely to see Spain retain its strong track record as an exporting nation, which has been maintained through the last three years of recession with a steady 1.8% share of world trade despite the rise of China and the far east. But new jobs are likely to go overseas leaving the recovery largely jobless.

Edited by Trampa501

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