A New Course for Spain: Beyond the Crisis

The global financial crisis of 2007-08 took a heavy toll on Spain’s vulnerable economy. The spectacular collapse of the real estate and construction sectors caused the unemployment rate to skyrocket to 27% in 2013. This shook the country’s economic, political, institutional and social foundations. There is now a glimmer of light in what has been a very long tunnel, thanks to some of the measures taken, the innate strengths of the country, particularly the extended family-based network, and the common sense of its people.

This book seeks to explain how Spain moved from crisis to incipient recovery by looking at the reforms and the main sectors –macroeconomic fundamentals, exports, banking, investment abroad, foreign direct investment in Spain, etc–. It also looks at the challenges ahead including the new political situation with the erosion of the two-party system –the Popular Party and the Socialists– that has alternated in power since 1982 and the emergence of two new parties, the anti-austerity Podemos and centrist Ciudadanos.

Escrito por William Chislett

William Chislett (Oxford, 1951) is Distinguished Senior Fellow at the Elcano Royal Institute. He covered Spain’s transition to democracy for The Times of London between 1975 and 1978. He was then based in Mexico City for the Financial Times between 1978 and 1984. He returned to Madrid on a permanent basis in 1986 and since then, among other things, has written [...]