Social Sciences
8 years ago

Spain's Economic Crisis: Unsustainable Growth Strategy Leads to Financial Turmoil.

Palgrave Macmillan UK eBooks
The Economic Crisis in Spain: Contagion Effects and Distinctive Factors
Jesús Ferreiro, Felipe Serrano

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The Spanish economy has been in a deep crisis since 2008 due to unsustainable growth strategies, excessive external debt, structural issues in the labor market, and poor fiscal policies. This led to financial turmoil and a sovereign debt crisis in the euro area. The main goal of the chapter is to explain why Spain's economy has performed poorly since 2008.