The Spanish Economy

The Spanish economy remains in recession  according to a recent article on the BBC web site.  It is a fairly balanced article which looks at the current situation in Spain, backed up by INE statistics.  Another BBC article of interest could be PIGS - Portugal, Ireland (or perhaps now Italy), Greece and Spain -  which provides statistical information for Eurozone countries worst affected by the recession.

There is no doubt that the situation in Spain is bad.  However, every bad situation provides an opportunity.  Now could be the time to make fundamental changes to re-shape our economy in order to take advantage of opportunities when things start to improve.

In order to correct a situation, it is necessary to accept that a problem actually exists.  None of us is very good at accepting our faults or shortcomings and some people feel that this is especially true here in Spain.

These and other points are raised in an article (English translation of the original Spanish article) about the Spanish economy which I have just read by a Spanish journalist, Ricardo Angoso García.  The article, written towards the end of 2008, seems rather hard-hitting to me although it is hard not to agree with many of his contentions.

Check out the articles and let me have your views.