To Hell and Back: Spain’s Grotesque Recession and Its Surprising New Economy Reply

Bosch Las Delicias

Steven Hill for The Atlantic, Madrid, October 18, 2013–It’s been more than a rocky few years for Spain. It’s been a rocky half-century. Run by a military dictator until the 1970s, Spain emerged in the early 2000s as a model of social democracy and the poster child for the European Union. Then the global economy collapsed in 2008, and suddenly Spain was suffering from Depression-era levels of unemployment and an economy melting down like a Dali horrorscape. In a few years it had gone from budget surpluses, a growing middle class, and generous social supports to wrenching austerity policies and collapsing wages, triggered by the massive failure of Spanish banks. 

Read more in The Atlantic: http://www.theatlantic.com/business/archive/2013/10/to-hell-and-back-spains-grotesque-recession-and-its-surprising-new-economy/280678/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s