Juan Manuel Botero
José Javier Laso
Mónica Rojas Garzón
Introduction to economics
Spain´s macroeconomic issues
Everyone knows Spain as a beautiful country; rich in property, government,infrastructure, and off course monarchy. The word monarchy immediately, demonstrates people, that the country establishes a good and healthy economic position, leading to low inflation, low percentagesof unemployment, and great development in GDP throughout years. The main purpose of this essay is to break all the facts mentioned above, and make people realize, that Spain is suffering one of thebiggest crisis in the last decade, and show what are the problems and main macroeconomic issues that the country is suffering nowadays. Our task is to create suggestions and make methods that canimprove poverty in Spain and also, the recovery of unemployment, which is the main issue that concerns the country.
If we talk of Spain’s economy, is the twelfth largest economy in the world and fifthlargest in the European Nation based on the nominal GDP´s comparisons. Its GDP is 1.05 trillion euro, it´s inflation is 3.2%, its population below poverty line is 2.8% (2011), its labor force is 23.1million and its unemployment rate is 25.02% (October 2012). This facts show that unemployment has been increasing throughout years, due to the several debts of the country, and wrong economic policiesset by past governments. Between 2008 and 2012 almost a quarter of Spain’s total labor force have lost their jobs. All this macroeconomic problems have develop, because of three main crisis; the eurodebt crisis, the employment crisis and the inflation of prices. Briefly we would like to explain, each of the crisis, and after that, try to find an answer for these important issues.
The euro debtcrisis is a financial calamity that has makes it difficult to some countries in the Euro zone, to repay or refinance their internal debts without the assistance of third parties; Spain is one this...
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