1986 ‘today: Inside Europe

by yudaica2013 ·

Torre Agbar, Barcelona.
Spain’s entry into the European Economic Community (EEC) predecessor of the EU on January 1 of 1986 strengthened the economic momentum in the final started. Entry required that the country opened its economy, with a sharp increase in foreign investments in Spain and momentum modernizer of Spanish companies with foreign competition. There was also an increase in public investment in infrastructure among whom were those relating to the splendor of the 92 Olympics in Barcelona and Seville World Exhibition. There was a hitch in consumption caused by an enhancement effect caused by the rise of the stock exchange and the value of the property. With this, India accelerated GDP growth, reduced public debt, the unemployment rate fell from 24.4 to 15 in 3 years and inflation fell below 3 .
The most important challenges for the Spanish economy include the reduction of public deficit, a further reduction in unemployment, the reform of labor laws, reduced inflation, increased performance and productivity and increased GDP per capita .
After the strong growth experienced in the late 1980s, the Spanish economy went into recession in mid-1992. Since 1992 economic policy was marked by the Maastricht Agreement led to the introduction of the euro as the common currency of the European Union. The measures that involved the control of inflation and public deficits.
The economy recovered after 1995, driven by increased consumer confidence and increased private consumption, although this growth has been lower in recent years. Unemployment remains a problem for the Spaniards (in 2005 the unemployment rate was 8.5 ), but even so this is an improvement over previous levels. The devaluation of the peseta in the course of the 1990s made exports more competitive, but the strength of the euro since its adoption (in early 2008, one euro has come to change by 1.50 U.S. dollars) raised doubts about whether export prices are too high for foreign buyers. However, this has been offset by the ease of trade between the countries of the euro area and the new relations of Spain with Latin America and Asia.

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