Knowledge

2008–2014 Spanish financial crisis

Source 📝

927:. This rating allows the ECB to use a lower margin for banks that borrow with Spanish debt as collateral. After a more recent review, Moody's maintained Spain's investment-grade credit rating, removing the pressure on the country's debt. This decision by Moody's assured that Spanish bonds will continue to gain investor support; yields fell 5.50%, a level last seen in April 2012. Although Moody's can still downgrade the country's ratings in the future, the decision to not downgrade will encourage the buying of Spain's bonds. 126: 25: 821: 936: 300:. While some observers suggest that a soft landing would occur, others suggest that a crash in prices is probable. Lower home prices would allow low-income families and young people to enter the market; however, there is a strong perception that house prices never go down. As of August 2008, while new constructions have come virtually to a halt, prices have not had significant movements either up or downwards. The national average price as of late 2008 is 2,095 euros/m. 852: 213:(ESM). In addition to applying for a €100 billion bank recapitalization package in June 2012, Spain negotiated financial support from a "Precautionary Conditioned Credit Line" (PCCL) package. If Spain applied and received a PCCL package, irrespective to what extent it subsequently decided to draw on this established credit line, this would at the same time immediately qualify the country to receive "free" additional financial support from the 527:, Spain suffered a severe setback in October 2008, when it saw its unemployment rate surging to 1996 levels. Between October 2007 and October 2008, Spain had its unemployment rate climb 36%, exceeding by far the unemployment surge of past economic crises like 1993. In particular, in October 2008, Spain suffered its worst unemployment rise ever recorded and, the country has suffered Europe's biggest unemployment crisis during the 2008 crisis. 969:
put in place to restore the economy. Many youths are trying to find jobs abroad, creating a problem for the future domestic economy and job market. Rajoy proposed a new budget for 2013 that would cut government spending by 8.9%. By April 2013, unemployment had risen to 27%, but decreased to around 15%-16.1% as of February 2018, and Spain became one of Europe's fastest-growing economies, thus demonstrating that the country was improving.
247: 985:. The Statute of Autonomy included a package of laws that gave more power to the region and would have recognized Catalonia as a nation, although one still within Spain. As with the rest of Spain, Catalonia has had high levels of unemployment. As many as 22% of the economically active population were unemployed, which is still lower than Spain's national jobless rate, yet higher than Madrid's. In 2010, 801:, a rarity in a country with so many coastal towns. Indeed, the EU as a group saw a decline in tourists coming to their countries in 2008 and 2009, with −13% tourism growth in coastal Spain. Despite its traditional popularity with Korean and Japanese tourists, the relatively expensive cost of holidaying in Spain led many to pursue "sun and beach" Mediterranean getaways in Turkey, Spain's tourism rival. 738: 968:
and his left-wing government. Trying to get Spain out of the highest unemployment rate in the European Union proved to be harder than expected. The bailout for Spain was estimated to be insufficient to restore the economy. With a serious level of debt in the country, substantial cuts would have to be
784:
confirmed that the total number of people leaving the country (Spaniards and non-Spaniards) had over taken the number of arrivals. Spain is now a net emigrant country. There are now indications that established immigrants have begun to leave, although many that have are still retaining a household in
754:
for a paycheck. The State Secretary for Unemployment states that higher education is a way for the current generation to battle this issue; however, government cuts are occurring that slash university staff salaries and increase the number of students per class. For those paying their own way through
749:
Unemployment for those under 25 was reported to be up to 50%. Spain's current generation is considered the most educated that the country has ever had, yet it faces the greatest rate of unemployment in Europe. Roughly 68% of young people are willing to leave the country to search for a job, and those
891:
and the 10-year bond yield at 7.5% (23 July 2012), Spain's economic minister traveled to Germany to request that the ECB facilitate government bond purchases to "avoid an imminent financial collapse". Promised borrowing by the ECB enabled Spain's 10-year yield to stay below or close to the 6% level,
550:
Spain, as in other southern European nations, relies heavily on the inter-generational family structure for a significant portion of the social safety net. Employment expectations should be adjusted for this cultural ethos. The unemployment rate for the "principal breadwinner" is 12.4% less than the
530:
Spain's unemployment rate hit 17.4% at the end of March 2009, with the jobless total now having doubled over the past 12 months, when two million people lost their jobs. In this same month, Spain had over 4 million people unemployed, By July 2009, it had shed 1.2 million jobs in one year and was to
956:
Since then, the country's borrowing costs have reached levels deemed unsustainable in the long run, raising the prospect of a second aid program for Madrid following the 100 billion euro lifeline it obtained for its banks in June. Spain expected the European Commission to approve the restructuring
303:
Housing prices were projected to fall another 25%. Government protections allow banks to avoid marking-to-market to postpone losses. "Spanish housing prices are now falling at the fastest pace on record" dropping 15.2% over the last year. Mortgage holders must continue to pay the debt even after a
273:
House ownership in Spain is above 80%. The desire to own one's own home was encouraged by governments in the 60s and 70s, and has thus become part of the Spanish psyche. In addition, tax regulation encourages ownership: 15% of mortgage payments are deductible from personal income taxes. Even more,
828:
Spain entered the crisis period with a relatively modest public debt of 36.2% of GDP. This was largely due to ballooning tax revenue from the housing bubble, which helped accommodate a decade of increased government spending without debt accumulation. In response to the crisis, Spain initiated an
472:
would enable the Spanish government to make a formal request for the €100 billion credit line. Further analysis and tests would be undertaken prior to restructuring and recapitalization over the following year. Restrictions on the credit line exempting funds from covering "legacy assets" suggests
385:
It was later revealed that nearly all the Spanish representatives in Congress had large investments in the housing sector, some owning up to twenty houses. Over time, more and more news has emerged about the informal alliance between Spanish central and regional governments and the banking sector
269:
interest). In 2004, 509,293 new properties were built in Spain and in 2005 the number of new properties built was 528,754. In a country with 16.5 million families, there were 22–24 million houses and 3–4 million empty houses. From all the houses built over the 2001–2007 period, "no less than 28%"
189:
against its main trading partners, an above-average inflation rate, house price increases, and a growing family indebtedness. During the third quarter of 2008 the national GDP contracted for the first time in 15 years, and, in February 2009, Spain (and other European economies) officially entered
409:
In stark contrast to countries like Ireland, no nationalization took place. Instead the problem was rolled over with the extension of the remaining real estate companies debts, while the central government bailed once and again banks and cajas alike. For more than three years, there was a steady
351:
As of October 2010, the Spanish economy continued to contract, resulting in decreasing GDP and increasing inflation. From 2011 to 2012 alone, prices rose 3.5% as compared to 2% in the United States. The rise in prices, combined with the recently implemented austerity measures and extremely high
960:
A larger economy than other countries that have received bailout packages, Spain had considerable bargaining power regarding the terms of a bailout. Due to reforms already instituted by Spain's conservative government, less stringent austerity requirements were included than for earlier bailout
381:
Spain's unusual accounting standards, intended to smooth earnings over the business cycle, have misled regulators and analysts by hiding losses and earnings volatility. The accounting technique of "dynamic provisioning", which violated the standards set by the International Accounting Standards
952:
to the Spanish government. The Spanish government was then expected to give the appropriate amount of money to the respective banks. On 21 June 2012 it was decided that 62 billion euros would be shared among the Spanish banks in need. The European Union warned that rescued banks are subject to
168:
bubble and the accompanying unsustainably high GDP growth rate. The ballooning tax revenues from the booming property investment and construction sectors kept the Spanish government's revenue in surplus, despite strong increases in expenditure, until 2007. The Spanish government supported the
374:, thanks to the country's conservative banking rules and practices. Banks are required to have high capital provisions and demand various proofs and securities from intending borrowers. Nevertheless, this practice was greatly relaxed during the housing bubble, a trend to which the regulator ( 173:
standards. The banks in Spain were able to hide losses and earnings volatility, mislead regulators, analysts, and investors, and thereby finance the Spanish real estate bubble. The results of the crisis were devastating for Spain, including a strong economic downturn, a severe increase in
836:
announced on 11 July 2012 €65 billion of austerity, including cuts in wages and benefits and a VAT increase from 18% to 21%. The government eventually succeeded in reducing its budget deficit from 11.2% of GDP in 2009 to 8.5% in 2011, and it was expected to fall further to 5.4% in 2012.
763:" that is constantly looking for work and whose futures are closed off from "good careers". The stress of unemployment has also affected personal relationships, with many young adults separating from their partners. Youth unemployment is about double the overall rate of unemployment. 414:
have been prevalent: it has been speculated that this was because of the fear that laid-off senior members would talk about the sector's rampant malpractice. To this date, no bankers have been legally charged for having roles in this process.
947:
held an emergency meeting to discuss how to inject capital into Spanish banks. The IMF estimated the capital needs of the Spanish banks to be about 40 billion euros. The Eurogroup announced intentions to provide up to 100 billion euro to the
755:
their studies, the tough economy has made it nearly impossible to find a job and study simultaneously. Hopes for the future are dwindling as Spain's unemployment rate is almost as high as it was for the United States during the
69:, is a useful starting point for translations, but translators must revise errors as necessary and confirm that the translation is accurate, rather than simply copy-pasting machine-translated text into the English Knowledge. 410:
process of bank concentration. Spain had the densest bank office net in Europe, which led many bank employees to be dismissed. By contrast, bank board members have mostly kept their roles, even those in merged entities.
194:. The economy contracted 3.7% in 2009 and again in 2010 by 0.1%. It grew by 0.7% in 2011. By the 1st quarter of 2012, Spain was officially in recession once again. The Spanish government forecast a 1.7% drop for 2012. 285:, between June 2007 and June 2008, Spain has been the European country with the sharpest plunge in construction, with actual sales down an average 25.3%. So far, some regions have been more affected than others ( 1046: 55: 347:
instead, as Spain registered in January 2009 its lowest inflation rate in 40 years which was then followed in March 2009 by a negative inflation rate for the first time ever since this statistic was recorded.
4011: 2474: 3049: 2379: 766:
The high unemployment rate, at 56% as of June 2013, has been considered to be overstated. Subtracting students and young mothers not looking for jobs, the actual number is closer to 22%.
2299: 308:
deals" in which the debt is cancelled if the property is surrendered, allowing the bank to quickly sell and recoup a greater percentage of the loan or turn the property into a rental.
5329: 2051: 177:
Even though some fundamental problems in the Spanish economy were already evident far ahead of the crisis, Spain continued the path of unsustainable property led growth when the
5087: 1686: 2772: 265:€651 billion was the mortgage debt of Spanish families in the second quarter of 2005 (this debt continued to grow at 25% per year – 2001 through 2005, with 97% of mortgages at 2144: 2451: 2713: 402:
found themselves left with the collateral and properties of those companies, namely overpriced real state and residential-zoned land now rendered worthless, rendering the
197:
The provision of up to €100 billion of rescue loans from eurozone funds was agreed by eurozone finance ministers on 9 June 2012. As of October 2012, the so-called Troika (
957:
plans of the banks needing aid on 15 November 2012 and then to authorize the disbursal of the first credit line of up to 100 billion euros within three weeks after that.
844:
its banks, its debt will approach 90% of GDP. To avoid this, the EU pledged to lend to banks directly although it then appeared that the Spanish government might have to
5334: 390:, while all the major parties are significantly indebted with banks, and such debts are extended from time to time) which increased the bubble size over the years. Most 452:
On 9 June 2012 Eurozone finance ministers agreed that Spanish banks would be provided with up to €100 billion of rescue loans. This money was to be distributed via the
464:
welcomed the move, praising the combination of a "thorough restructuring of the banking sector", structural reforms, and fiscal consolidation; U.S. Treasury Secretary
2505: 1878: 476:
In May 2012, Spanish banks lent €1.66 trillion to the private sector and took in €896 billion. Historically it would borrow the difference from foreign banks (i.e.,
2013: 3085: 2424: 2343: 551:
25% overall rate (June 2012.) Employment is also found in the underground economy, which is estimated to be as large as 20% of the economy during the boom years.
5339: 2110: 1016:, which was downgraded to being a more informal ballot after further intervention by the Constitutional Court. The dispute remained unresolved as of March 2015. 511:. This is part of a €37 billion EC bailout or restructuring approved in June 2012. It included loss-taking by investors of up to €10 billion, the creation of a " 5016: 2226: 1613: 315:. For instance, the town of Valdeluz was constructed for 30,000 people, but had a population of only 700 people in 2011. Ghost airports such as €1.1 billion 4246: 1234: 340: 840:
As of 15 June 2012, Spain's public debt stood at 72.1% of GDP, still less than the eurozone average of 88%. If Spain uses the €100 billion credit line to
2482: 812:
is generally rising again. Furthermore, violent unrest in North Africa and the Middle East is redirecting tourists towards stable countries like Spain.
5573: 4781: 430:
lender, was nationalized on 9 May, and on 25 May it announced that it would require a bailout of €23.5 billion to cover losses from failed mortgages.
4766: 3267: 433:
In addition to Spanish banks, other European banks have a sizable presence in Spain. German banks lead with an exposure of $ 146 billion. Germany's
72:
Do not translate text that appears unreliable or low-quality. If possible, verify the text with references provided in the foreign-language article.
4743: 541:
By the end of 2012, Spain's unit labor costs improved. It narrowed the gap with Germany by 5.5% and 4.6% with respect to France. Spain's policy of
3046: 2406: 2383: 1930: 1554: 964:
As the EU's fifth-largest economy, Spain remained a large concern. In 2011 the conservative Mariano Rajoy took over the government, pushing out
793:
As the financial crisis was getting started in Spain, it was already underway in the United States and other western countries. The decrease in
523:
After having completed substantial improvements over the second half of the 1990s and during the 2000s, which put a few regions on the brink of
232:
against Spanish sovereign debt were discouraged and 10-year bond yields stayed below the 6% level, approaching the 5% level by the end of 2012.
5151: 5081: 2883: 2307: 370:
The Spanish banking system had been credited as one of the most solid and best equipped among all Western economies to cope with the worldwide
2059: 808:, and other non-economic factors are contributing to its resurgence as a tourist destination. While Spain's economy itself is not doing well, 5568: 4846: 4728: 4667: 4630: 4464: 3200: 1110: 37: 356:
of money decreases as well. The frustration of this decreases in buying power has manifested in several, very large, worker demonstrations.
5487: 4788: 4327: 3309: 3078: 2780: 1828: 907:
cut Spain's rating. On 18 October 2011 Moody's Rating cut Spain's rating by 2 notches to A1 from Aa2 with the outlook remaining negative.
558: 102: 2578: 1848: 1290: 4712: 4572: 4471: 3392: 1420: 1345: 1013: 2933: 2325: 1693: 209:) was in negotiations with Spain to establish an economic recovery program required for providing additional financial loans from the 5630: 4579: 4422: 4055: 3292: 3142: 2361: 538:
In 2012, unions organized a general strike to protest proposals to weaken union power, enable cuts in wages, and lower firing costs.
1200: 5072: 4736: 4653: 4623: 4506: 4499: 4443: 4436: 4304: 3993: 3216: 3157: 3127: 1025: 274:
the oldest apartments are controlled by non-inflation-adjusted rent controls and eviction is slow, therefore discouraging renting.
170: 165: 2443: 1718: 1033: 343:
that happened in the second half of 2008 plus the confirmed burst of the property bubble, concerns quickly shifted to the risk of
5605: 4810: 4429: 3682: 3603: 3314: 3071: 3057: 339:
added much pressure to the inflation rate. Thus, in June 2008 the inflation rate reached a 13-year high of 5.00%. Then, with the
1319: 157:
when the country was unable to bail out its financial sector and had to apply for a €100 billion rescue package provided by the
4880: 4616: 4485: 4342: 4180: 3675: 3112: 484:
in July 2012. Depositors were fleeing Spanish banks; deposits dropped 4.7% from June to July (2012) as money was moved abroad.
1388: 5625: 4297: 4210: 3959: 3951: 3297: 2204: 1005: 1634: 915:
cut it to the same level on 7 October 2011. On 14 June 2012, Moody's downgraded Spain to Baa3, just one notch above "junk".
3319: 3246: 3117: 1660: 2502: 4993: 4645: 3914: 3190: 949: 480:) but reduced access led to a greater reliance on ECB loans. Spanish banks borrowed a record €376 billion (net) from the 453: 5819: 5809: 5278: 4674: 3228: 3185: 1038: 80: 2803: 5794: 5789: 5784: 5779: 5774: 5769: 5764: 5366: 4803: 4609: 4261: 4128: 3878: 3180: 3132: 1745: 1446: 965: 224:
said that the ECB was "ready to do whatever it takes to preserve the euro". Announced on 6 September 2012, the ECB's
93:
Content in this edit is translated from the existing Spanish Knowledge article at ]; see its history for attribution.
1903: 320: 5119: 4958: 4048: 3660: 3335: 3195: 3033: 3011: 990: 382:
Board, obscured capital cushions until they were depleted, allowing the appearance of health as problems mounted.
5381: 5324: 5194: 5146: 5141: 5114: 5077: 4983: 4450: 4224: 3711: 547:
cut public sector salaries by 5% with an additional 7.1% cut consisting of a suspension of the "14-month bonus".
228:(OMT) program of unlimited purchases of short-term sovereign debt put the ECB's balance sheet behind the pledge. 2985: 4638: 4602: 4513: 4415: 3385: 3282: 3234: 1069: 997: 804:
However, Spain has also seen the largest growth in tourism since 2011 and 2012. Its geographic advantages, the
225: 169:
critical development by relaxing supervision of the financial sector and thereby allowing the banks to violate
154: 146: 2735: 1000:
was the first to produce a majority for openly separatist parties. Prime Minister Mariano Rajoy insisted that
5824: 5396: 5214: 4988: 4839: 4774: 4478: 4349: 4290: 4143: 3137: 2900: 2864: 2033:"Euro-Zone Banks Cut Back Lending: ECB Loans to Spain Soar, as Germany Pulls Back, Underlying Risks to South" 1105: 986: 883:
In June 2012, the Spanish 10-year government bond reached 7%, 5.44% over the German 10-year bond. As Spanish
178: 2959: 1472: 352:
unemployment, are heavily impacting the livelihood of Spanish citizens. As the average wage decreases, the
5319: 5283: 5109: 4541: 4385: 4378: 4335: 4283: 4217: 3815: 3304: 3122: 2846: 2822: 2754: 2673: 2654: 2635: 2616: 2597: 2560: 2380:"Spain's Unemployment Rate Is Now Almost As High As US Unemployment In Great Depression - Business Insider" 2280: 2171: 2125: 2074: 2032: 1975: 1956: 1765: 1499: 1059: 1001: 210: 158: 2523: 5386: 4910: 4697: 4689: 4363: 4356: 4276: 4203: 4195: 4187: 4165: 3564: 1095: 316: 206: 5246: 4943: 4873: 4681: 4586: 4392: 4070: 3833: 1614:"Más de 900.000 viviendas construidas en los años del 'boom' inmobiliario están vacías - Cotizalia.com" 1262: 742: 515:" to absorb up to €45 billion of failed loans, closing thousands of bank branches, and reducing staff. 2344:"INEbase / Mercado laboral /Actividad, ocupación y paro /Encuesta de población activa / Últimos datos" 5829: 5640: 5420: 5346: 5092: 5036: 5031: 4796: 4720: 4492: 3975: 3378: 3147: 3098: 1784: 1558: 1090: 220:
The turning point for the Spanish sovereign debt crisis occurred on 26 July 2012, when ECB President
3967: 3222: 5814: 5615: 5261: 5136: 4933: 4457: 4120: 4092: 3929: 477: 88: 5804: 5799: 5376: 5234: 4973: 4832: 4750: 4254: 4157: 3758: 2111:"Bail-out tapas: Spain has taken painful steps to clean up its banks, but more may yet be needed" 1080: 809: 469: 241: 186: 1517: 1182: 759:. People are beginning to fear the transformation of this generation into one referred to as a " 456:, and the exact amount to be loaned would be determined after audits of the banks. EC President 5759: 5754: 5749: 5744: 5739: 5734: 5729: 5314: 4963: 4953: 4825: 4527: 3922: 3773: 3766: 3718: 3704: 3420: 3240: 1051: 924: 916: 908: 830: 780:
Large-scale immigration continued throughout 2008 despite severe unemployment, but by 2011 the
5157: 1856: 1298: 1129: 535:
combined. By March 2012, Spain's unemployment rate reached 24.4%, twice the eurozone average.
5653: 5610: 5507: 5467: 5442: 5251: 5199: 4866: 4757: 4150: 4004: 3667: 3649: 3576: 3555: 3272: 1722: 1085: 481: 214: 202: 109: 5540: 5472: 5462: 5309: 5268: 5256: 4923: 4704: 4534: 4078: 3690: 3595: 3587: 3499: 3359: 2253: 1536: 978: 775: 543: 391: 365: 1008:
unsuccessfully tried to get such a move approved in Parliament in 2008. Catalan president
8: 5590: 5477: 5457: 5447: 5229: 5204: 4968: 4660: 4370: 4268: 4173: 4033: 3885: 3803: 3637: 3462: 3277: 1719:"La venta de viviendas cae un 42% en Catalunya en un año, el mayor porcentaje del Estado" 1598: 884: 751: 492: 488: 457: 336: 289:
was ahead in this regard with a 42.2% sales plunge while sparsely populated regions like
259: 198: 5585: 5580: 5482: 5452: 5401: 5241: 5224: 5163: 5060: 5026: 4918: 3543: 2321: 1833: 1159:"Spain: Still in the Throes of the Great Recession – The Spanish Economy Sinks Further" 1100: 398:
lent heavily to real estate companies that at the end of the bubble went bankrupt; the
229: 375: 5600: 5512: 5497: 5492: 5432: 5371: 5361: 5273: 5182: 5168: 5124: 5103: 5041: 3629: 3612: 3513: 2714:"Reunión en Berlín: el Gobierno se plantea pedir una línea de crédito para salvar el" 1272: 794: 508: 411: 84: 1664: 129:
Demonstration against the crisis and high youth unemployment in Madrid, 15 May 2011.
5694: 5687: 5532: 5391: 5297: 5219: 5129: 5097: 5011: 4901: 4893: 4594: 4109: 4104: 3520: 3492: 3469: 3401: 3345: 3287: 1395: 1064: 798: 756: 465: 371: 182: 2196: 2145:"La recesión económica provoca en octubre la mayor subida del paro de la historia" 1879:"El IPC de marzo confirma la primera caída de los precios pero frena la deflación" 5560: 5555: 5351: 5046: 4978: 4554: 4404: 4239: 4085: 4041: 3940: 3441: 3340: 3094: 3053: 2509: 1267: 760: 524: 387: 278: 125: 5703: 5620: 5595: 5522: 5437: 5021: 4948: 4319: 4231: 4136: 3506: 3485: 2694: 2227:"El paro supera los cuatro millones de personas por primera vez en la historia" 2092: 1803: 1581: 1362: 1235:"El tirón de las importaciones eleva el déficit exterior a más del 10% del PIB" 845: 504: 1785:"Amazing Satellite Images Of Spanish Ghost Towns -- Abandoned Since The Crash" 820: 5723: 5661: 5517: 3982: 3907: 3900: 3893: 3871: 3855: 3847: 3840: 3826: 3796: 3789: 3782: 3740: 3733: 3726: 3697: 3536: 3529: 3455: 3427: 1276: 912: 833: 442: 427: 419: 297: 266: 3063: 1904:"Spain: Devastating impact of the economic crisis | socialistworld.net" 935: 5708: 5666: 5550: 5406: 4311: 4062: 3863: 3434: 888: 353: 305: 221: 2425:"A great migration: Spain needs its young people to create new businesses" 5648: 5545: 4938: 4565: 4022: 3621: 3478: 3448: 2541: 1907: 1218:"El desempleo en España supera el 27% (Unemployment in Spain over 27%)". 805: 332: 290: 2362:"Desperation, anger grows for Spanish youth, with 51 percent unemployed" 1599:"Number of new properties according to the Ministry of Housing in Spain" 1389:"FAQ about European Financial Stability Facility (EFSF) and the new ESM" 785:
Spain due to the poor conditions that exist in their country of origin.
251: 2884:"Comunicado íntegro del Eurogrupo sobre el rescate a la banca española" 2633: 2595: 904: 434: 312: 91:
to the source of your translation. A model attribution edit summary is
3038: 3032:
Sahuquillo, María R.; Aunión, J. A.; Mars, Amanda (29 December 2013).
2231: 2149: 1239: 281:
popped Spain became one of the worst affected countries. According to
5502: 5209: 2901:"Spain Bailout Request Could Come in November — Business News - CNBC" 1158: 1130:"TWO-TIER LABOUR MARKETS IN THE GREAT RECESSION: FRANCE VERSUS SPAIN" 1009: 982: 944: 500: 461: 446: 422:
of several Spanish banks were downgraded, some to "junk" status. The
344: 331:
Due to the lack of its own resources, Spain has to import all of its
286: 191: 1954: 1661:"Todo lo que tienes que saber sobre los alquileres de renta antigua" 919:
downgraded Spain to BBB− (one notch above junk) on 11 October 2012.
851: 750:
with college degrees are willing to settle for working at so-called
217:(ECB), in the form of some unlimited yield-lowering bond purchases. 4928: 3413: 3370: 2910: 2652: 2014:"Spain's crisis flares again as AAA club scuppers bank rescue deal" 1994: 581: 512: 438: 282: 2052:"Spanish Banks' ECB Loans Rise as Rajoy Mulls Second Bailout Call" 923:
downgraded Spain to single-A, which remains higher than the major
246: 4858: 1992: 1343: 977:
One effect of the financial crisis is an increase in support for
841: 2722:
En juego, por tanto, está evitar un colapso financiero inminente
2579:"Eurozone crisis live: German parliament approves Greek package" 2558: 2463:(this periodical appears to be more blog-like than journalistic) 2030: 386:(for example, the government pardon of the second-in-command at 66: 1931:"Spanish Lender Seeks 19 Billion Euros; Ratings Cut on 5 Banks" 496: 423: 3047:"Policy Alternatives for a Return to Full Employment in Spain" 2614: 2278: 1744:
Mickey Levy, Chief Economist, Bank of America (19 July 2012).
4889: 2931: 2475:"300.000 inmigrantes han vuelto a su país por culpa del paro" 2300:"Spain Vows to Resist Strikers' Demands to Reverse Labor Law" 1973: 1074: 993:, which further irritated Catalan secessionist organization. 668: 532: 495:'s plan to shrink and restructure three major Spanish banks — 150: 3012:"Ruling party in Catalonia region loses seats in parliament" 296:
Banks offered 40-year mortgages and, more recently, 50-year
2905: 1346:"Spain Slips Back into Recession in First Quarter: Economy" 920: 824:
Spanish debt as % of GDP vs. Eurozone average, by year
781: 2957: 2733: 737: 2986:"Europe Is Ready With Aid for Spanish Banks, France Says" 2773:"Spain's Rating Cut by Moody's for Third Time Since 2010" 2695:"Spain's borrowing costs at fresh high after Moody's cut" 829:
austerity program consisting primarily of tax increases.
2634:
Gabriele Steinhauser and Jonathan House (19 June 2012).
2596:
Charles Forell and Gabriele Steinhauser (11 June 2012).
2407:"As Europe struggles, young job-seekers suffer the most" 1363:"Spanish banks to get up to 100bn euros in rescue loans" 2934:"Spain Holds a Trump Card in Bank Bailout Negotiations" 2865:"El Gobierno español pide el rescate bancario a Europa" 2011: 953:
control and experts would meet stringent requirements.
99:{{Translated|es|Crisis económica española (2008-2014)}} 1381: 3719:
Post-Napoleonic Irish grain price and land use shocks
2093:"Spain banks to cut jobs and shrink in restructuring" 1955:
Sara Schaefer Munoz and Laua Stevens (27 June 2012).
1829:"In Spain, a Symbol of Ruin at an Airport to Nowhere" 1804:"The white elephants that dragged Spain into the red" 1582:"Spanish economy: What is to blame for its problems?" 3031: 2653:
Geoffrey T. Smith and Matina Stevis (29 June 2012).
1201:"The EU Smiled While Spain's Banks Cooked the Books" 62: 58:
a machine-translated version of the Spanish article.
1974:Laura Stevens and Eyk Henning (24 September 2012). 1344:Emma Ross-Thomas and Simone Meier (30 April 2012). 1194: 1192: 1180: 892:settling below the 5% level in the spring of 2013. 174:unemployment, and bankruptcies of major companies. 2734:Emese Bartha; Jonathan House (18 September 2012). 2444:"Spain sees first drop in immigration in a decade" 2320: 2218: 2189: 3268:Economic and Monetary Union of the European Union 2844: 2559:David Roman and Nicholas Winning (11 July 2012). 2534: 2246: 2123: 2031:Charles Forelle and David Enrich (14 July 2012). 1993:Victor Mallet and Patrick Jenkins (5 July 2012). 1537:"Europe calmed by firm hand on edge of the abyss" 769: 5721: 2755:"Bonds' Yields Trump Worries on Spain and Italy" 2297: 2279:Jonathan House and David Roman (28 April 2012). 2072: 1555:""According to the Spanish Ministry of Housing"" 1534: 1189: 1077:, bank set up to take over assets from the banks 2932:Nicholas Kulish; Raphael Minder (6 June 2012). 2804:"S&P cuts Spain credit rating to near junk" 2689: 2687: 2615:Jonathan House and David Roman (15 June 2012). 2561:"Madrid Austerity Plan Boosted to $ 80 Billion" 1579: 1291:"Spain facing long haul as recession confirmed" 1004:does not allow for a region to secede. Spain's 2840: 2838: 2836: 2820: 2136: 1957:"European Banks Are Facing More Pain in Spain" 1928: 1759: 1757: 1747:Europe on the brink: How should the US engage? 1629: 1627: 1497: 1263:"Boomtime Spain waits for the bubble to burst" 1176: 1174: 1172: 531:have the same number of jobless as France and 87:accompanying your translation by providing an 49:Click for important translation instructions. 36:expand this article with text translated from 4874: 4847:List of stock market crashes and bear markets 3386: 3093: 3079: 2671: 2441: 2012:Ambrose Evans-Pritchard (28 September 2012). 1198: 1111:List of stock market crashes and bear markets 293:were down a mere 1.7% over the same period). 2958:Peter Spiegel; Victor Mallet (6 June 2012). 2801: 2684: 2598:"Latest Europe Rescue Aims to Prop Up Spain" 2466: 1976:"State of Europe's Banks: Safe and Stressed" 1870: 1763: 1500:"How Europe's Currency Survived 2012 Intact" 961:packages for Ireland, Portugal, and Greece. 911:has downgraded Spain on 14 October 2011 and 741:Demonstration against labor market reforms, 2983: 2895: 2893: 2833: 2752: 2736:"Spain Debt Sells Despite Bailout Pressure" 2711: 2589: 2542:"The Spanish bail-out: Going to extra time" 2524:"Despite economy, Spanish tourism prospers" 2354: 2272: 2066: 1841: 1821: 1754: 1624: 1573: 1357: 1355: 1254: 1169: 437:entered the market during the early 2000s. 4881: 4867: 3393: 3379: 3086: 3072: 1849:"Spain's Vegara does not expect deflation" 1226: 1047:Annex: Political corruption cases in Spain 939:Demonstration in Madrid, 25 September 2012 895:In 2016, public debt reached 101% of GDP. 250:Unfinished buildings due to the crisis in 181:. In these times Spain had already a huge 4668:2015–2016 Chinese stock market turbulence 2960:"Europe weighs up limited Spanish rescue" 2881: 2435: 2049: 1922: 1447:"Opposition wanes to Spanish aid request" 930: 359: 304:foreclosure. Banks have begun to accept " 2890: 2472: 2224: 2142: 1876: 1782: 1352: 1260: 934: 850: 819: 797:of consumers led to a sharp decrease in 736: 473:limits to the planned banking bailouts. 245: 171:International Accounting Standards Board 124: 3058:Center for Economic and Policy Research 3009: 2847:"Spanish Bonds Get Reprieve on Ratings" 2636:"Spanish Woes Cast Rescue in New Light" 2404: 1995:"Spanish Banks' Tale of Woe to Drag On" 1766:"Fall in Spain's House Prices Steepens" 1608: 1606: 1473:"Spain prepares to make rescue request" 1232: 972: 258:The residential real estate bubble saw 5722: 4573:Venezuelan banking crisis of 2009–2010 4343:South American economic crisis of 2002 4240:Black Wednesday (1992 Sterling crisis) 2503:"Impact of Crisis on Tourism in Spain" 2124:Christopher Bjork (28 November 2012). 2073:Gustav Sandstrom (24 September 2012). 1801: 1282: 5152:Natural Sites of Community Importance 4862: 4624:2013 Chinese banking liquidity crisis 4580:2010–2014 Portuguese financial crisis 4056:Secondary banking crisis of 1973–1975 3374: 3067: 2977: 2925: 2882:Gutiérrez, Juan Jesús (9 June 2012). 2845:Tommy Stubbington (17 October 2012). 2674:"Doubts Emerge in Bloc's Rescue Deal" 2075:"Nordic Banks Gain New Status: Haven" 1535:Kyran Fitzgerald (22 December 2012). 1421:"Spain to ask for bailout next month" 1394:. EFSF. 3 August 2012. Archived from 732: 4654:Russian financial crisis (2014–2016) 4507:2008–2011 Icelandic financial crisis 4500:2008–2009 Ukrainian financial crisis 4465:2000s U.S. housing market correction 4305:1998–2002 Argentine great depression 3400: 3320:2010 European Union bank stress test 2951: 1603: 1498:Stephen Fidler (28 September 2012). 1026:2008–2014 Spanish real estate crisis 518: 392:regional semi-public savings banks ( 18: 5631:UNESCO Intangible Cultural Heritage 4811:2023–2024 Egyptian financial crisis 4646:Puerto Rican government-debt crisis 4639:2014–2016 Brazilian economic crisis 4012:1963–1965 Indonesian hyperinflation 3915:Shanghai rubber stock market crisis 3604:Dutch Republic stock market crashes 3217:Icelandic financial crisis protests 2869:www.20minutos.es - Últimas Noticias 2521: 2197:"Spain's jobless rate soars to 17%" 1288: 1181:Juan Carlos Hidalgo (31 May 2012). 1034:2008–present Spanish society crisis 950:Fund for Orderly Bank Restructuring 454:Fund for Orderly Bank Restructuring 13: 4888: 4617:2012–2013 Cypriot financial crisis 4521:2008–2014 Spanish financial crisis 4493:2008–2009 Russian financial crisis 4486:2008–2009 Belgian financial crisis 4181:1988–1992 Norwegian banking crisis 3676:British credit crisis of 1772–1773 3315:United Kingdom bank rescue package 2298:Emma Ross-Thomas (20 March 2012). 2207:from the original on 27 April 2009 1855:, 13 February 2009, archived from 1039:2017 Spanish constitutional crisis 235: 135:2008–2014 Spanish financial crisis 14: 5841: 4804:2023 United States banking crisis 4610:2011 Bangladesh share market scam 4298:1998–1999 Ecuador economic crisis 4262:Venezuelan banking crisis of 1994 4188:Japanese asset price bubble crash 4129:Souk Al-Manakh stock market crash 3879:Australian banking crisis of 1893 3683:Dutch Republic financial collapse 3025: 2779:. 19 October 2011. Archived from 1764:Art Patnaude (14 December 2012). 991:Statute of Autonomy for Catalonia 903:For the third time in 13 months, 145:, began in 2008 during the world 3661:Amsterdam banking crisis of 1763 3336:List of countries by public debt 3010:Goodman, Al (25 November 2012). 2821:Richard Barley (9 August 2012). 2802:Daniel Bases (11 October 2012). 2655:"EU Leaders Provide Few Details" 2454:from the original on 8 July 2011 1802:Harter, Pascale (26 July 2012). 1750:. American Enterprise Institute. 1261:Crawford, Leslie (8 June 2006), 1014:independence referendum for 2014 23: 5195:Autonomous communities of Spain 4386:2007 Chinese stock bubble crash 3712:Danish state bankruptcy of 1813 3003: 2875: 2857: 2814: 2795: 2765: 2746: 2727: 2705: 2665: 2646: 2627: 2608: 2571: 2552: 2515: 2496: 2417: 2398: 2372: 2336: 2314: 2291: 2164: 2126:"EU Clears Spanish Bank Rescue" 2117: 2103: 2085: 2043: 2024: 2005: 1986: 1967: 1948: 1896: 1795: 1776: 1737: 1711: 1679: 1653: 1592: 1580:Laurence Knight (18 May 2012). 1547: 1528: 1510: 1491: 1465: 1439: 1413: 1337: 1183:"Looking at Austerity in Spain" 887:(CDS) hit a record high of 633 341:dramatic decrease of oil prices 5606:National and regional identity 4767:Chinese property sector crisis 4675:2015–2016 stock market selloff 4603:August 2011 stock markets fall 4514:2008–2011 Irish banking crisis 4211:1990s Swedish financial crisis 3960:Weimar Republic hyperinflation 3223:May Day protests across Europe 2442:Captain Chaos (8 March 2009), 2281:"Spain Jobless Crisis Deepens" 1929:Raphael Minder (25 May 2012). 1312: 1289:Day, Paul (18 February 2009), 1233:Abellán, L. (30 August 2008), 1211: 1199:Jonathan Weil (14 June 2012). 1151: 1122: 1070:European sovereign debt crisis 815: 770:From immigration to emigration 321:Castellón-Costa Azahar Airport 226:Outright Monetary Transactions 166:Spain's crisis was the housing 155:European sovereign debt crisis 97:You may also add the template 1: 4840:List of sovereign debt crises 4782:2022 Russian financial crisis 4479:2008 Latvian financial crisis 4472:U.S. bear market of 2007–2009 4350:Stock market downturn of 2002 4291:1998 Russian financial crisis 4144:1983 Israel bank stock crisis 3310:Société Générale trading loss 3229:French pension reform strikes 3034:"2008–2013: Balance de daños" 2753:Nick Cawley (26 April 2013). 2672:Matina Stevis (6 July 2012). 2617:"Spain Debt Has Fund Worried" 2473:González, Sara (1 May 2009), 2405:Wiseman, Paul (9 July 2012). 1116: 1106:Stock market crashes in India 270:were vacant as of late 2008. 262:rise 200% from 1996 to 2007. 4542:Greek government-debt crisis 4379:2004 Argentine energy crisis 4336:2001 Turkish economic crisis 4225:1990s Armenian energy crisis 4218:1990s Finnish banking crisis 4079:1976 British currency crisis 4049:1973–1974 stock market crash 2823:"Excessive Power of Ratings" 2712:Pedro Calvo (24 July 2012). 2481:(in Spanish), archived from 2143:Agencias (4 November 2008), 2050:Ben Sills (14 August 2012). 987:Spain's Constitutional Court 966:José Luis Rodríguez Zapatero 716: 705: 694: 683: 665: 654: 643: 629: 618: 607: 596: 578: 564: 426:bank, the country's largest 211:European Stability Mechanism 179:ruling party changed in 2004 159:European Stability Mechanism 7: 5626:UNESCO World Heritage Sites 4698:2017 Sri Lankan fuel crisis 4364:2003 Myanmar banking crisis 4357:2002 Uruguay banking crisis 4277:1997 Asian financial crisis 4204:1991 Indian economic crisis 4196:Rhode Island banking crisis 4166:Cameroonian economic crisis 3952:Early Soviet hyperinflation 3565:Crisis of the Third Century 2984:David Jolly (6 June 2012). 2585:. London. 27 February 2012. 1783:Goldman, Leah; Lubin, Gus. 1096:1991 Indian economic crisis 1019: 317:Ciudad Real Central Airport 311:Some developments resemble 16:Economic situation in Spain 10: 5846: 4729:Sri Lankan economic crisis 4587:Energy crisis in Venezuela 4566:2009 Dubai debt standstill 4416:2007–2008 financial crisis 4071:Latin American debt crisis 3834:Paris Bourse crash of 1882 2225:Agencias (24 April 2009), 1877:Agencias (15 April 2009), 1163:European Economic Snapshot 898: 788: 773: 743:Las Palmas de Gran Canaria 449:have large Spanish units. 363: 239: 153:a late participant in the 147:2007–2008 financial crisis 61:Machine translation, like 5820:Great Recession in Europe 5810:Economic history of Spain 5681: 5639: 5531: 5428: 5419: 5305: 5296: 5190: 5181: 5068: 5059: 5004: 4909: 4900: 4820: 4797:2022 stock market decline 4789:Pakistani economic crisis 4775:2021–2023 inflation surge 4721:Lebanese liquidity crisis 4690:Venezuelan hyperinflation 4682:Brexit stock market crash 4631:Venezuela economic crisis 4553: 4403: 4393:Zimbabwean hyperinflation 4103: 4021: 3992: 3976:Wall Street Crash of 1929 3939: 3816:2nd Industrial Revolution 3814: 3750: 3650:1st Industrial Revolution 3648: 3575: 3553: 3408: 3354: 3328: 3260: 3209: 3173: 3166: 3105: 2479:El Periódico de Catalunya 2450:, Spanish News, on-line, 1297:, Reuters, archived from 1091:Autonomous Liquidity Fund 905:Moody's Investors Service 666: 630: 579: 487:On 28 November 2012, the 337:scenario of record prices 326: 38:the corresponding article 5795:2014 in economic history 5790:2013 in economic history 5785:2012 in economic history 5780:2011 in economic history 5775:2010 in economic history 5770:2009 in economic history 5765:2008 in economic history 5284:Wars and armed conflicts 4924:Ancient History Timeline 4458:Subprime mortgage crisis 4121:Brazilian hyperinflation 4093:Brazilian hyperinflation 3930:Financial crisis of 1914 3638:Mississippi bubble crash 3052:20 December 2013 at the 799:Spain's tourist industry 468:also welcomed the move. 143:Great Spanish Depression 139:Great Recession in Spain 4984:Transition to democracy 4959:Reaction and revolution 4833:List of economic crises 4751:2020 stock market crash 4744:Financial market impact 4713:Turkish economic crisis 4328:9/11 stock market crash 4284:October 1997 mini-crash 4255:1994 bond market crisis 4247:Yugoslav hyperinflation 4158:Savings and loan crisis 3759:European potato failure 1885:, Economía (in Spanish) 1243:, Economía (in Spanish) 1081:Spanish property bubble 810:purchasing power parity 323:and others were built. 242:Spanish property bubble 108:For more guidance, see 5574:International Interest 5382:Science and technology 5078:Autonomous communities 4826:List of banking crises 4595:Syrian economic crisis 4528:Blue Monday Crash 2009 4137:Chilean crisis of 1982 3968:Shōwa financial crisis 3774:Highland Potato Famine 3630:South Sea bubble crash 3421:Commodity price shocks 3305:Irish emergency budget 3241:March for a Better Way 2254:"Two-tier flexibility" 1618:www.elconfidencial.com 1320:"Spain Country Report" 1052:Catalan independentism 998:2015 regional election 940: 931:2012 financial bailout 925:credit rating agencies 880: 825: 746: 378:) turned a blind eye. 360:Spanish banking system 255: 130: 5611:National Day of Spain 4151:Black Saturday (1983) 4005:Kennedy Slide of 1962 3577:Commercial revolution 3273:European social model 2508:30 April 2014 at the 2172:"Builders' nightmare" 1518:"The world this year" 1086:Unemployment in Spain 1012:instead scheduled an 938: 854: 823: 774:Further information: 740: 507:— and sell a fourth, 406:in essence bankrupt. 364:Further information: 249: 215:European Central Bank 128: 110:Knowledge:Translation 81:copyright attribution 5825:Stock market crashes 5215:Constitutional Court 4705:Ghana banking crisis 4535:European debt crisis 4320:Dot-com bubble crash 4232:Cuban Special Period 3691:Copper Panic of 1789 3596:The Great Debasement 3588:Great Bullion Famine 3360:European debt crisis 3283:Irish banking crisis 1725:on 26 September 2008 1137:The Economic Journal 1002:Spain's constitution 973:Separatist movements 885:credit default swaps 776:Immigration to Spain 544:internal devaluation 366:Savings bank (Spain) 137:, also known as the 5158:Plazas de soberanía 4661:2015 Nepal blockade 4371:2000s energy crisis 4269:Mexican peso crisis 4174:Black Monday (1987) 4034:1970s energy crisis 3994:Post–WWII expansion 3668:Bengal bubble crash 3463:Financial contagion 3278:Icelandic outvasion 2964:The Financial Times 2851:Wall Street Journal 2827:Wall Street Journal 2759:Wall Street Journal 2740:Wall Street Journal 2678:Wall Street Journal 2659:Wall Street Journal 2640:Wall Street Journal 2602:Wall Street Journal 2565:Wall Street Journal 2522:Riggins, Jennifer. 2448:Costa Tropical News 2330:Wall Street Journal 2285:Wall Street Journal 2130:Wall Street Journal 2099:. 28 November 2012. 2079:Wall Street Journal 2062:on 19 January 2013. 2037:Wall Street Journal 1980:Wall Street Journal 1961:Wall Street Journal 1770:Wall Street Journal 1524:. 22 December 2012. 1504:Wall Street Journal 1060:Corruption in Spain 943:On 9 June 2012 the 917:Standard and Poor's 909:Standard and Poor's 846:guarantee the loans 562: 557:Unemployment rate ( 489:European Commission 460:and vice-president 458:Jose Manuel Barroso 199:European Commission 149:. In 2012, it made 5387:Telecommunications 5088:Biosphere Reserves 4989:Contemporary Spain 4979:Spain under Franco 4919:Prehistoric Iberia 3923:Panic of 1910–1911 3767:Great Irish Famine 3705:Panic of 1796–1797 3544:Stock market crash 2990:The New York Times 2938:The New York Times 2913:on 2 November 2012 2621:The New York Times 2322:Alessandra Galloni 2113:. 1 December 2012. 2056:Bloomberg Business 1935:The New York Times 1910:on 29 January 2017 1834:The New York Times 1667:on 11 October 2007 1639:The New York Times 1401:on 22 January 2011 1101:Stock market crash 941: 881: 878: 3 month bond 866: 10 year bond 860: 20 year bond 826: 747: 733:Youth unemployment 572:Total unemployment 556: 493:Spanish government 279:speculative bubble 260:real estate prices 256: 164:The main cause of 131: 89:interlanguage link 5717: 5716: 5677: 5676: 5601:Myths and legends 5569:National Interest 5415: 5414: 5367:Largest companies 5292: 5291: 5279:Political parties 5247:Foreign relations 5177: 5176: 5125:Iberian Peninsula 5073:Autonomous cities 5055: 5054: 4856: 4855: 4737:COVID-19 pandemic 3622:Tulip mania crash 3613:Kipper und Wipper 3590:(c. 1400–c. 1500) 3368: 3367: 3256: 3255: 2326:"The Nonna State" 2310:on 29 March 2012. 2203:, 24 April 2009, 2178:, 4 December 2008 1808:BBC News Magazine 1479:. 24 October 2012 1453:. 16 October 2012 1427:. 15 October 2012 1185:. Cato Institute. 872: 2 year bond 855:Spain bond rates 795:disposable income 728: 727: 519:Employment crisis 509:Banco de Valencia 478:interbank lending 470:Bank stress tests 412:Golden parachutes 121: 120: 50: 46: 5837: 5830:Financial crises 5697: 5690: 5426: 5425: 5357:Financial crisis 5347:Economic history 5303: 5302: 5220:Cortes Generales 5188: 5187: 5130:Peninsular Spain 5066: 5065: 5017:Pre-Roman Iberia 5012:General overview 4907: 4906: 4883: 4876: 4869: 4860: 4859: 4849: 4842: 4835: 4828: 4813: 4806: 4799: 4792: 4784: 4777: 4770: 4760: 4753: 4746: 4739: 4732: 4724: 4716: 4708: 4700: 4693: 4685: 4677: 4670: 4663: 4656: 4649: 4641: 4634: 4626: 4619: 4612: 4605: 4598: 4590: 4582: 4575: 4568: 4544: 4537: 4530: 4523: 4516: 4509: 4502: 4495: 4488: 4481: 4474: 4467: 4460: 4453: 4446: 4439: 4432: 4425: 4418: 4396: 4388: 4381: 4374: 4366: 4359: 4352: 4345: 4338: 4331: 4323: 4315: 4307: 4300: 4293: 4286: 4279: 4272: 4264: 4257: 4250: 4242: 4235: 4227: 4220: 4213: 4206: 4199: 4191: 4183: 4176: 4169: 4161: 4153: 4146: 4139: 4132: 4124: 4110:Great Regression 4105:Great Moderation 4096: 4088: 4081: 4074: 4066: 4058: 4051: 4044: 4037: 4014: 4007: 3985: 3978: 3971: 3963: 3955: 3932: 3925: 3918: 3910: 3903: 3896: 3889: 3881: 3874: 3867: 3859: 3851: 3843: 3836: 3829: 3807: 3799: 3792: 3785: 3776: 3769: 3762: 3743: 3736: 3729: 3722: 3714: 3707: 3700: 3693: 3686: 3678: 3671: 3663: 3641: 3633: 3625: 3617: 3607: 3599: 3591: 3568: 3546: 3539: 3532: 3523: 3516: 3509: 3502: 3495: 3493:Liquidity crisis 3488: 3481: 3472: 3470:Social contagion 3465: 3458: 3451: 3444: 3437: 3430: 3423: 3416: 3402:Financial crises 3395: 3388: 3381: 3372: 3371: 3329:Related articles 3288:Anglo Irish Bank 3171: 3170: 3088: 3081: 3074: 3065: 3064: 3043: 3020: 3019: 3007: 3001: 3000: 2998: 2996: 2981: 2975: 2974: 2972: 2970: 2955: 2949: 2948: 2946: 2944: 2929: 2923: 2922: 2920: 2918: 2909:. Archived from 2897: 2888: 2887: 2879: 2873: 2872: 2861: 2855: 2854: 2842: 2831: 2830: 2818: 2812: 2811: 2799: 2793: 2792: 2790: 2788: 2769: 2763: 2762: 2750: 2744: 2743: 2731: 2725: 2724: 2709: 2703: 2702: 2691: 2682: 2681: 2669: 2663: 2662: 2650: 2644: 2643: 2631: 2625: 2624: 2612: 2606: 2605: 2593: 2587: 2586: 2575: 2569: 2568: 2556: 2550: 2549: 2538: 2532: 2531: 2519: 2513: 2500: 2494: 2493: 2492: 2490: 2470: 2464: 2462: 2461: 2459: 2439: 2433: 2432: 2421: 2415: 2414: 2402: 2396: 2395: 2393: 2391: 2382:. Archived from 2376: 2370: 2369: 2358: 2352: 2351: 2340: 2334: 2333: 2324:(15 June 2012). 2318: 2312: 2311: 2306:. Archived from 2295: 2289: 2288: 2276: 2270: 2269: 2267: 2265: 2250: 2244: 2243: 2242: 2240: 2222: 2216: 2215: 2214: 2212: 2193: 2187: 2186: 2185: 2183: 2168: 2162: 2161: 2160: 2158: 2140: 2134: 2133: 2121: 2115: 2114: 2107: 2101: 2100: 2089: 2083: 2082: 2070: 2064: 2063: 2058:. Archived from 2047: 2041: 2040: 2028: 2022: 2021: 2009: 2003: 2002: 1990: 1984: 1983: 1971: 1965: 1964: 1952: 1946: 1945: 1943: 1941: 1926: 1920: 1919: 1917: 1915: 1906:. Archived from 1900: 1894: 1893: 1892: 1890: 1874: 1868: 1867: 1866: 1864: 1845: 1839: 1838: 1825: 1819: 1818: 1816: 1814: 1799: 1793: 1792: 1789:Business Insider 1780: 1774: 1773: 1761: 1752: 1751: 1741: 1735: 1734: 1732: 1730: 1721:. Archived from 1715: 1709: 1708: 1706: 1704: 1699:on 20 March 2009 1698: 1692:. Archived from 1691: 1687:"ElPaisPDFMedia" 1683: 1677: 1676: 1674: 1672: 1663:. Archived from 1657: 1651: 1650: 1648: 1646: 1641:. 28 August 2012 1631: 1622: 1621: 1610: 1601: 1596: 1590: 1589: 1577: 1571: 1570: 1568: 1566: 1561:on 16 April 2009 1557:. Archived from 1551: 1545: 1544: 1532: 1526: 1525: 1514: 1508: 1507: 1495: 1489: 1488: 1486: 1484: 1469: 1463: 1462: 1460: 1458: 1443: 1437: 1436: 1434: 1432: 1417: 1411: 1410: 1408: 1406: 1400: 1393: 1385: 1379: 1378: 1376: 1374: 1359: 1350: 1349: 1341: 1335: 1334: 1332: 1330: 1316: 1310: 1309: 1308: 1306: 1286: 1280: 1279: 1258: 1252: 1251: 1250: 1248: 1230: 1224: 1223: 1222:. 25 April 2013. 1215: 1209: 1208: 1196: 1187: 1186: 1178: 1167: 1166: 1155: 1149: 1148: 1146: 1144: 1134: 1126: 1065:Economy of Spain 1058: 1045: 1032: 877: 871: 865: 859: 757:Great Depression 563: 555: 466:Timothy Geithner 418:In May 2012 the 372:liquidity crisis 230:Speculative runs 100: 94: 67:Google Translate 48: 44: 27: 26: 19: 5845: 5844: 5840: 5839: 5838: 5836: 5835: 5834: 5815:Eurozone crisis 5720: 5719: 5718: 5713: 5700: 5693: 5686: 5673: 5668:Toro de Osborne 5635: 5616:Public holidays 5527: 5488:Life expectancy 5411: 5377:Property bubble 5288: 5173: 5051: 5047:Spanish miracle 5000: 4974:Second Republic 4896: 4887: 4857: 4852: 4845: 4838: 4831: 4824: 4816: 4809: 4802: 4795: 4787: 4780: 4773: 4765: 4756: 4749: 4742: 4735: 4727: 4719: 4711: 4703: 4696: 4688: 4680: 4673: 4666: 4659: 4652: 4644: 4637: 4629: 4622: 4615: 4608: 4601: 4593: 4585: 4578: 4571: 4564: 4557: 4555:Information Age 4549: 4540: 4533: 4526: 4519: 4512: 4505: 4498: 4491: 4484: 4477: 4470: 4463: 4456: 4449: 4442: 4435: 4428: 4421: 4414: 4407: 4405:Great Recession 4399: 4391: 4384: 4377: 4369: 4362: 4355: 4348: 4341: 4334: 4326: 4318: 4310: 4303: 4296: 4289: 4282: 4275: 4267: 4260: 4253: 4245: 4238: 4230: 4223: 4216: 4209: 4202: 4194: 4186: 4179: 4172: 4164: 4156: 4149: 4142: 4135: 4127: 4119: 4112: 4108: 4099: 4091: 4086:1979 oil crisis 4084: 4077: 4069: 4061: 4054: 4047: 4042:1973 oil crisis 4040: 4032: 4025: 4023:Great Inflation 4017: 4010: 4003: 3996: 3988: 3981: 3974: 3966: 3958: 3950: 3943: 3941:Interwar period 3935: 3928: 3921: 3913: 3906: 3899: 3892: 3884: 3877: 3870: 3862: 3854: 3846: 3839: 3832: 3825: 3818: 3810: 3802: 3795: 3788: 3781: 3772: 3765: 3757: 3746: 3739: 3732: 3725: 3717: 3710: 3703: 3696: 3689: 3681: 3674: 3666: 3659: 3652: 3644: 3636: 3628: 3620: 3610: 3602: 3594: 3586: 3579: 3571: 3563: 3549: 3542: 3535: 3528: 3519: 3512: 3505: 3498: 3491: 3484: 3477: 3468: 3461: 3454: 3447: 3442:Currency crisis 3440: 3433: 3426: 3419: 3412: 3404: 3399: 3369: 3364: 3350: 3341:Occupy movement 3324: 3298:Nationalisation 3252: 3205: 3162: 3101: 3095:Great Recession 3092: 3060:, November 2013 3054:Wayback Machine 3028: 3023: 3008: 3004: 2994: 2992: 2982: 2978: 2968: 2966: 2956: 2952: 2942: 2940: 2930: 2926: 2916: 2914: 2899: 2898: 2891: 2880: 2876: 2863: 2862: 2858: 2843: 2834: 2819: 2815: 2808:Chicago Tribune 2800: 2796: 2786: 2784: 2783:on 22 July 2012 2771: 2770: 2766: 2751: 2747: 2732: 2728: 2710: 2706: 2701:. 14 June 2012. 2693: 2692: 2685: 2670: 2666: 2651: 2647: 2632: 2628: 2613: 2609: 2594: 2590: 2577: 2576: 2572: 2557: 2553: 2548:. 16 June 2012. 2540: 2539: 2535: 2520: 2516: 2510:Wayback Machine 2501: 2497: 2488: 2486: 2471: 2467: 2457: 2455: 2440: 2436: 2423: 2422: 2418: 2403: 2399: 2389: 2387: 2378: 2377: 2373: 2366:www.cbsnews.com 2360: 2359: 2355: 2342: 2341: 2337: 2319: 2315: 2296: 2292: 2277: 2273: 2263: 2261: 2252: 2251: 2247: 2238: 2236: 2223: 2219: 2210: 2208: 2195: 2194: 2190: 2181: 2179: 2170: 2169: 2165: 2156: 2154: 2141: 2137: 2122: 2118: 2109: 2108: 2104: 2091: 2090: 2086: 2071: 2067: 2048: 2044: 2029: 2025: 2010: 2006: 1991: 1987: 1972: 1968: 1953: 1949: 1939: 1937: 1927: 1923: 1913: 1911: 1902: 1901: 1897: 1888: 1886: 1875: 1871: 1862: 1860: 1859:on 10 June 2009 1847: 1846: 1842: 1837:. 18 July 2012. 1827: 1826: 1822: 1812: 1810: 1800: 1796: 1781: 1777: 1762: 1755: 1743: 1742: 1738: 1728: 1726: 1717: 1716: 1712: 1702: 1700: 1696: 1689: 1685: 1684: 1680: 1670: 1668: 1659: 1658: 1654: 1644: 1642: 1633: 1632: 1625: 1612: 1611: 1604: 1597: 1593: 1578: 1574: 1564: 1562: 1553: 1552: 1548: 1533: 1529: 1516: 1515: 1511: 1496: 1492: 1482: 1480: 1477:Financial Times 1471: 1470: 1466: 1456: 1454: 1451:Financial Times 1445: 1444: 1440: 1430: 1428: 1419: 1418: 1414: 1404: 1402: 1398: 1391: 1387: 1386: 1382: 1372: 1370: 1361: 1360: 1353: 1342: 1338: 1328: 1326: 1318: 1317: 1313: 1304: 1302: 1301:on 10 June 2009 1287: 1283: 1268:Financial Times 1259: 1255: 1246: 1244: 1231: 1227: 1217: 1216: 1212: 1197: 1190: 1179: 1170: 1157: 1156: 1152: 1142: 1140: 1132: 1128: 1127: 1123: 1119: 1056: 1043: 1030: 1022: 975: 933: 901: 879: 875: 873: 869: 867: 863: 861: 857: 818: 791: 778: 772: 761:Lost Generation 735: 631:9th (Zapatero) 525:full employment 521: 376:Banco de España 368: 362: 329: 244: 238: 236:Property bubble 187:competitiveness 117: 116: 115: 98: 92: 51: 45:(December 2017) 28: 24: 17: 12: 11: 5: 5843: 5833: 5832: 5827: 5822: 5817: 5812: 5807: 5805:2010s in Spain 5802: 5800:2000s in Spain 5797: 5792: 5787: 5782: 5777: 5772: 5767: 5762: 5757: 5752: 5747: 5742: 5737: 5732: 5715: 5714: 5712: 5711: 5706: 5699: 5698: 5691: 5683: 5682: 5679: 5678: 5675: 5674: 5672: 5671: 5664: 5659: 5658:Cultural icons 5656: 5651: 5645: 5643: 5637: 5636: 5634: 5633: 5628: 5623: 5618: 5613: 5608: 5603: 5598: 5593: 5588: 5583: 5578: 5577: 5576: 5571: 5563: 5558: 5553: 5548: 5543: 5537: 5535: 5529: 5528: 5526: 5525: 5520: 5515: 5510: 5505: 5500: 5495: 5490: 5485: 5480: 5475: 5470: 5465: 5460: 5455: 5450: 5445: 5440: 5435: 5429: 5423: 5417: 5416: 5413: 5412: 5410: 5409: 5404: 5399: 5394: 5389: 5384: 5379: 5374: 5369: 5364: 5359: 5354: 5349: 5344: 5343: 5342: 5337: 5332: 5322: 5317: 5312: 5306: 5300: 5294: 5293: 5290: 5289: 5287: 5286: 5281: 5276: 5271: 5266: 5265: 5264: 5259: 5249: 5244: 5239: 5238: 5237: 5235:Prime Minister 5227: 5222: 5217: 5212: 5207: 5202: 5197: 5191: 5185: 5179: 5178: 5175: 5174: 5172: 5171: 5166: 5161: 5154: 5149: 5147:National parks 5144: 5142:Municipalities 5139: 5134: 5133: 5132: 5122: 5117: 5115:Extreme points 5112: 5107: 5100: 5095: 5090: 5085: 5075: 5069: 5063: 5057: 5056: 5053: 5052: 5050: 5049: 5044: 5039: 5034: 5029: 5024: 5022:Spanish Empire 5019: 5014: 5008: 5006: 5002: 5001: 4999: 4998: 4997: 4996: 4986: 4981: 4976: 4971: 4966: 4964:First Republic 4961: 4956: 4951: 4946: 4941: 4936: 4934:Medieval Spain 4931: 4929:Roman Hispania 4926: 4921: 4915: 4913: 4904: 4898: 4897: 4886: 4885: 4878: 4871: 4863: 4854: 4853: 4851: 4850: 4843: 4836: 4829: 4821: 4818: 4817: 4815: 4814: 4807: 4800: 4793: 4791:(2022–present) 4785: 4778: 4771: 4769:(2020–present) 4763: 4762: 4761: 4754: 4747: 4733: 4731:(2019–present) 4725: 4723:(2019–present) 4717: 4715:(2018–present) 4709: 4701: 4694: 4686: 4678: 4671: 4664: 4657: 4650: 4642: 4635: 4633:(2013–present) 4627: 4620: 4613: 4606: 4599: 4597:(2011–present) 4591: 4589:(2010–present) 4583: 4576: 4569: 4561: 4559: 4558:(2009–present) 4551: 4550: 4548: 4547: 4546: 4545: 4538: 4531: 4524: 4517: 4510: 4503: 4496: 4489: 4482: 4475: 4468: 4461: 4454: 4447: 4440: 4433: 4426: 4423:September 2008 4411: 4409: 4401: 4400: 4398: 4397: 4395:(2007–present) 4389: 4382: 4375: 4367: 4360: 4353: 4346: 4339: 4332: 4324: 4316: 4308: 4301: 4294: 4287: 4280: 4273: 4265: 4258: 4251: 4243: 4236: 4228: 4221: 4214: 4207: 4200: 4192: 4184: 4177: 4170: 4162: 4154: 4147: 4140: 4133: 4125: 4116: 4114: 4101: 4100: 4098: 4097: 4089: 4082: 4075: 4067: 4059: 4052: 4045: 4038: 4029: 4027: 4019: 4018: 4016: 4015: 4008: 4000: 3998: 3990: 3989: 3987: 3986: 3979: 3972: 3964: 3956: 3947: 3945: 3937: 3936: 3934: 3933: 3926: 3919: 3911: 3904: 3897: 3890: 3882: 3875: 3868: 3860: 3852: 3844: 3837: 3830: 3822: 3820: 3812: 3811: 3809: 3808: 3800: 3793: 3786: 3779: 3778: 3777: 3770: 3754: 3752: 3748: 3747: 3745: 3744: 3737: 3730: 3723: 3715: 3708: 3701: 3694: 3687: 3685:(c. 1780–1795) 3679: 3672: 3664: 3656: 3654: 3646: 3645: 3643: 3642: 3634: 3626: 3618: 3608: 3606:(c. 1600–1760) 3600: 3592: 3583: 3581: 3573: 3572: 3570: 3569: 3560: 3558: 3551: 3550: 3548: 3547: 3540: 3533: 3526: 3525: 3524: 3517: 3510: 3503: 3489: 3486:Hyperinflation 3482: 3475: 3474: 3473: 3459: 3452: 3445: 3438: 3431: 3424: 3417: 3409: 3406: 3405: 3398: 3397: 3390: 3383: 3375: 3366: 3365: 3363: 3362: 3355: 3352: 3351: 3349: 3348: 3343: 3338: 3332: 3330: 3326: 3325: 3323: 3322: 3317: 3312: 3307: 3302: 3301: 3300: 3295: 3290: 3280: 3275: 3270: 3264: 3262: 3258: 3257: 3254: 3253: 3251: 3250: 3244: 3238: 3235:Irish students 3232: 3226: 3220: 3213: 3211: 3207: 3206: 3204: 3203: 3201:United Kingdom 3198: 3193: 3188: 3183: 3177: 3175: 3168: 3164: 3163: 3161: 3160: 3155: 3150: 3145: 3140: 3135: 3130: 3125: 3120: 3115: 3109: 3107: 3103: 3102: 3091: 3090: 3083: 3076: 3068: 3062: 3061: 3044: 3027: 3026:External links 3024: 3022: 3021: 3002: 2976: 2950: 2924: 2889: 2874: 2871:. 9 June 2012. 2856: 2832: 2813: 2794: 2764: 2745: 2726: 2704: 2683: 2664: 2645: 2626: 2607: 2588: 2570: 2551: 2533: 2514: 2495: 2485:on 16 May 2010 2465: 2434: 2431:. 1 June 2013. 2416: 2397: 2371: 2353: 2335: 2313: 2290: 2271: 2245: 2217: 2188: 2163: 2135: 2116: 2102: 2084: 2065: 2042: 2023: 2004: 1985: 1966: 1947: 1921: 1895: 1869: 1840: 1820: 1794: 1775: 1753: 1736: 1710: 1678: 1652: 1623: 1602: 1591: 1572: 1546: 1541:Irish Examiner 1527: 1509: 1490: 1464: 1438: 1412: 1380: 1351: 1336: 1324:Global Finance 1311: 1281: 1253: 1225: 1210: 1188: 1168: 1150: 1120: 1118: 1115: 1114: 1113: 1108: 1103: 1098: 1093: 1088: 1083: 1078: 1072: 1067: 1062: 1054: 1049: 1041: 1036: 1028: 1021: 1018: 1006:Basque Country 974: 971: 932: 929: 900: 897: 874: 868: 862: 856: 831:Prime Minister 817: 814: 790: 787: 771: 768: 734: 731: 730: 729: 726: 725: 722: 719: 715: 714: 711: 708: 704: 703: 700: 697: 693: 692: 689: 686: 682: 681: 678: 675: 672: 664: 663: 660: 657: 653: 652: 649: 646: 642: 641: 638: 635: 632: 628: 627: 624: 621: 617: 616: 613: 610: 606: 605: 602: 599: 595: 594: 591: 588: 585: 577: 576: 575:Annual change 573: 570: 567: 520: 517: 505:Catalunya Banc 420:credit ratings 388:Santander Bank 361: 358: 328: 325: 240:Main article: 237: 234: 119: 118: 114: 113: 106: 95: 73: 70: 59: 52: 33: 32: 31: 29: 22: 15: 9: 6: 4: 3: 2: 5842: 5831: 5828: 5826: 5823: 5821: 5818: 5816: 5813: 5811: 5808: 5806: 5803: 5801: 5798: 5796: 5793: 5791: 5788: 5786: 5783: 5781: 5778: 5776: 5773: 5771: 5768: 5766: 5763: 5761: 5760:2014 in Spain 5758: 5756: 5755:2013 in Spain 5753: 5751: 5750:2012 in Spain 5748: 5746: 5745:2011 in Spain 5743: 5741: 5740:2010 in Spain 5738: 5736: 5735:2009 in Spain 5733: 5731: 5730:2008 in Spain 5728: 5727: 5725: 5710: 5707: 5705: 5702: 5701: 5696: 5692: 5689: 5685: 5684: 5680: 5670: 5669: 5665: 5663: 5660: 5657: 5655: 5652: 5650: 5647: 5646: 5644: 5642: 5638: 5632: 5629: 5627: 5624: 5622: 5619: 5617: 5614: 5612: 5609: 5607: 5604: 5602: 5599: 5597: 5594: 5592: 5589: 5587: 5584: 5582: 5579: 5575: 5572: 5570: 5567: 5566: 5564: 5562: 5559: 5557: 5554: 5552: 5549: 5547: 5544: 5542: 5539: 5538: 5536: 5534: 5530: 5524: 5521: 5519: 5516: 5514: 5511: 5509: 5506: 5504: 5501: 5499: 5496: 5494: 5491: 5489: 5486: 5484: 5481: 5479: 5476: 5474: 5471: 5469: 5466: 5464: 5461: 5459: 5456: 5454: 5451: 5449: 5446: 5444: 5441: 5439: 5436: 5434: 5431: 5430: 5427: 5424: 5422: 5418: 5408: 5405: 5403: 5400: 5398: 5395: 5393: 5390: 5388: 5385: 5383: 5380: 5378: 5375: 5373: 5370: 5368: 5365: 5363: 5360: 5358: 5355: 5353: 5350: 5348: 5345: 5341: 5340:median income 5338: 5336: 5333: 5331: 5328: 5327: 5326: 5323: 5321: 5318: 5316: 5313: 5311: 5308: 5307: 5304: 5301: 5299: 5295: 5285: 5282: 5280: 5277: 5275: 5272: 5270: 5267: 5263: 5260: 5258: 5255: 5254: 5253: 5250: 5248: 5245: 5243: 5240: 5236: 5233: 5232: 5231: 5228: 5226: 5223: 5221: 5218: 5216: 5213: 5211: 5210:Head of State 5208: 5206: 5203: 5201: 5198: 5196: 5193: 5192: 5189: 5186: 5184: 5180: 5170: 5167: 5165: 5162: 5160: 5159: 5155: 5153: 5150: 5148: 5145: 5143: 5140: 5138: 5135: 5131: 5128: 5127: 5126: 5123: 5121: 5118: 5116: 5113: 5111: 5108: 5106: 5105: 5101: 5099: 5096: 5094: 5091: 5089: 5086: 5083: 5079: 5076: 5074: 5071: 5070: 5067: 5064: 5062: 5058: 5048: 5045: 5043: 5040: 5038: 5035: 5033: 5030: 5028: 5025: 5023: 5020: 5018: 5015: 5013: 5010: 5009: 5007: 5003: 4995: 4992: 4991: 4990: 4987: 4985: 4982: 4980: 4977: 4975: 4972: 4970: 4967: 4965: 4962: 4960: 4957: 4955: 4954:Enlightenment 4952: 4950: 4947: 4945: 4942: 4940: 4937: 4935: 4932: 4930: 4927: 4925: 4922: 4920: 4917: 4916: 4914: 4912: 4908: 4905: 4903: 4899: 4895: 4891: 4884: 4879: 4877: 4872: 4870: 4865: 4864: 4861: 4848: 4844: 4841: 4837: 4834: 4830: 4827: 4823: 4822: 4819: 4812: 4808: 4805: 4801: 4798: 4794: 4790: 4786: 4783: 4779: 4776: 4772: 4768: 4764: 4759: 4755: 4752: 4748: 4745: 4741: 4740: 4738: 4734: 4730: 4726: 4722: 4718: 4714: 4710: 4706: 4702: 4699: 4695: 4691: 4687: 4683: 4679: 4676: 4672: 4669: 4665: 4662: 4658: 4655: 4651: 4647: 4643: 4640: 4636: 4632: 4628: 4625: 4621: 4618: 4614: 4611: 4607: 4604: 4600: 4596: 4592: 4588: 4584: 4581: 4577: 4574: 4570: 4567: 4563: 4562: 4560: 4556: 4552: 4543: 4539: 4536: 4532: 4529: 4525: 4522: 4518: 4515: 4511: 4508: 4504: 4501: 4497: 4494: 4490: 4487: 4483: 4480: 4476: 4473: 4469: 4466: 4462: 4459: 4455: 4452: 4448: 4445: 4444:December 2008 4441: 4438: 4437:November 2008 4434: 4431: 4427: 4424: 4420: 4419: 4417: 4413: 4412: 4410: 4406: 4402: 4394: 4390: 4387: 4383: 4380: 4376: 4372: 4368: 4365: 4361: 4358: 4354: 4351: 4347: 4344: 4340: 4337: 4333: 4329: 4325: 4321: 4317: 4313: 4309: 4306: 4302: 4299: 4295: 4292: 4288: 4285: 4281: 4278: 4274: 4270: 4266: 4263: 4259: 4256: 4252: 4248: 4244: 4241: 4237: 4233: 4229: 4226: 4222: 4219: 4215: 4212: 4208: 4205: 4201: 4197: 4193: 4189: 4185: 4182: 4178: 4175: 4171: 4167: 4163: 4159: 4155: 4152: 4148: 4145: 4141: 4138: 4134: 4130: 4126: 4122: 4118: 4117: 4115: 4111: 4106: 4102: 4094: 4090: 4087: 4083: 4080: 4076: 4072: 4068: 4064: 4060: 4057: 4053: 4050: 4046: 4043: 4039: 4035: 4031: 4030: 4028: 4024: 4020: 4013: 4009: 4006: 4002: 4001: 3999: 3995: 3991: 3984: 3983:Panic of 1930 3980: 3977: 3973: 3969: 3965: 3961: 3957: 3953: 3949: 3948: 3946: 3942: 3938: 3931: 3927: 3924: 3920: 3916: 3912: 3909: 3908:Panic of 1907 3905: 3902: 3901:Panic of 1901 3898: 3895: 3894:Panic of 1896 3891: 3887: 3883: 3880: 3876: 3873: 3872:Panic of 1893 3869: 3865: 3861: 3857: 3856:Baring crisis 3853: 3849: 3848:Arendal crash 3845: 3842: 3841:Panic of 1884 3838: 3835: 3831: 3828: 3827:Panic of 1873 3824: 3823: 3821: 3817: 3813: 3805: 3801: 3798: 3797:Panic of 1866 3794: 3791: 3790:Panic of 1857 3787: 3784: 3783:Panic of 1847 3780: 3775: 3771: 3768: 3764: 3763: 3760: 3756: 3755: 3753: 3749: 3742: 3741:Panic of 1837 3738: 3735: 3734:Panic of 1825 3731: 3728: 3727:Panic of 1819 3724: 3720: 3716: 3713: 3709: 3706: 3702: 3699: 3698:Panic of 1792 3695: 3692: 3688: 3684: 3680: 3677: 3673: 3669: 3665: 3662: 3658: 3657: 3655: 3651: 3647: 3639: 3635: 3631: 3627: 3623: 3619: 3615: 3614: 3609: 3605: 3601: 3597: 3593: 3589: 3585: 3584: 3582: 3578: 3574: 3566: 3562: 3561: 3559: 3557: 3552: 3545: 3541: 3538: 3537:Social crisis 3534: 3531: 3530:Minsky moment 3527: 3522: 3518: 3515: 3511: 3508: 3504: 3501: 3497: 3496: 3494: 3490: 3487: 3483: 3480: 3476: 3471: 3467: 3466: 3464: 3460: 3457: 3456:Energy crisis 3453: 3450: 3446: 3443: 3439: 3436: 3432: 3429: 3428:Credit crunch 3425: 3422: 3418: 3415: 3411: 3410: 3407: 3403: 3396: 3391: 3389: 3384: 3382: 3377: 3376: 3373: 3361: 3357: 3356: 3353: 3347: 3344: 3342: 3339: 3337: 3334: 3333: 3331: 3327: 3321: 3318: 3316: 3313: 3311: 3308: 3306: 3303: 3299: 3296: 3294: 3291: 3289: 3286: 3285: 3284: 3281: 3279: 3276: 3274: 3271: 3269: 3266: 3265: 3263: 3259: 3248: 3245: 3242: 3239: 3236: 3233: 3230: 3227: 3224: 3221: 3218: 3215: 3214: 3212: 3208: 3202: 3199: 3197: 3194: 3192: 3189: 3187: 3184: 3182: 3179: 3178: 3176: 3172: 3169: 3165: 3159: 3156: 3154: 3151: 3149: 3146: 3144: 3141: 3139: 3136: 3134: 3131: 3129: 3126: 3124: 3121: 3119: 3116: 3114: 3111: 3110: 3108: 3104: 3100: 3096: 3089: 3084: 3082: 3077: 3075: 3070: 3069: 3066: 3059: 3055: 3051: 3048: 3045: 3042:(in Spanish). 3041: 3040: 3035: 3030: 3029: 3017: 3013: 3006: 2991: 2987: 2980: 2965: 2961: 2954: 2939: 2935: 2928: 2912: 2908: 2907: 2902: 2896: 2894: 2885: 2878: 2870: 2866: 2860: 2852: 2848: 2841: 2839: 2837: 2828: 2824: 2817: 2809: 2805: 2798: 2782: 2778: 2774: 2768: 2760: 2756: 2749: 2741: 2737: 2730: 2723: 2719: 2718:El Economista 2715: 2708: 2700: 2696: 2690: 2688: 2679: 2675: 2668: 2660: 2656: 2649: 2641: 2637: 2630: 2622: 2618: 2611: 2603: 2599: 2592: 2584: 2580: 2574: 2566: 2562: 2555: 2547: 2546:The Economist 2543: 2537: 2529: 2525: 2518: 2511: 2507: 2504: 2499: 2484: 2480: 2476: 2469: 2453: 2449: 2445: 2438: 2430: 2429:The Economist 2426: 2420: 2412: 2408: 2401: 2386:on 3 May 2012 2385: 2381: 2375: 2367: 2363: 2357: 2349: 2345: 2339: 2331: 2327: 2323: 2317: 2309: 2305: 2301: 2294: 2286: 2282: 2275: 2260:. 9 July 2009 2259: 2258:The Economist 2255: 2249: 2234: 2233: 2228: 2221: 2206: 2202: 2198: 2192: 2177: 2176:The Economist 2173: 2167: 2152: 2151: 2146: 2139: 2131: 2127: 2120: 2112: 2106: 2098: 2094: 2088: 2080: 2076: 2069: 2061: 2057: 2053: 2046: 2038: 2034: 2027: 2019: 2015: 2008: 2000: 1996: 1989: 1981: 1977: 1970: 1962: 1958: 1951: 1936: 1932: 1925: 1909: 1905: 1899: 1884: 1880: 1873: 1858: 1854: 1850: 1844: 1836: 1835: 1830: 1824: 1809: 1805: 1798: 1790: 1786: 1779: 1771: 1767: 1760: 1758: 1749: 1748: 1740: 1724: 1720: 1714: 1695: 1688: 1682: 1666: 1662: 1656: 1640: 1636: 1630: 1628: 1619: 1615: 1609: 1607: 1600: 1595: 1587: 1583: 1576: 1560: 1556: 1550: 1542: 1538: 1531: 1523: 1522:The Economist 1519: 1513: 1505: 1501: 1494: 1478: 1474: 1468: 1452: 1448: 1442: 1426: 1425:The Telegraph 1422: 1416: 1397: 1390: 1384: 1369:. 9 June 2012 1368: 1364: 1358: 1356: 1347: 1340: 1325: 1321: 1315: 1300: 1296: 1292: 1285: 1278: 1274: 1270: 1269: 1264: 1257: 1242: 1241: 1236: 1229: 1221: 1214: 1206: 1202: 1195: 1193: 1184: 1177: 1175: 1173: 1164: 1160: 1154: 1138: 1131: 1125: 1121: 1112: 1109: 1107: 1104: 1102: 1099: 1097: 1094: 1092: 1089: 1087: 1084: 1082: 1079: 1076: 1073: 1071: 1068: 1066: 1063: 1061: 1055: 1053: 1050: 1048: 1042: 1040: 1037: 1035: 1029: 1027: 1024: 1023: 1017: 1015: 1011: 1007: 1003: 999: 994: 992: 989:weakened the 988: 984: 980: 970: 967: 962: 958: 954: 951: 946: 937: 928: 926: 922: 918: 914: 913:Fitch Ratings 910: 906: 896: 893: 890: 886: 853: 849: 847: 843: 838: 835: 834:Mariano Rajoy 832: 822: 813: 811: 807: 802: 800: 796: 786: 783: 777: 767: 764: 762: 758: 753: 744: 739: 723: 720: 717: 712: 709: 706: 701: 698: 695: 690: 687: 684: 679: 676: 673: 670: 661: 658: 655: 650: 647: 644: 639: 636: 633: 625: 622: 619: 614: 611: 608: 603: 600: 597: 592: 589: 586: 583: 574: 571: 568: 565: 560: 554: 553: 552: 548: 546: 545: 539: 536: 534: 528: 526: 516: 514: 510: 506: 502: 498: 494: 491:approved the 490: 485: 483: 479: 474: 471: 467: 463: 459: 455: 450: 448: 444: 443:Deutsche Bank 440: 436: 431: 429: 425: 421: 416: 413: 407: 405: 401: 397: 395: 389: 383: 379: 377: 373: 367: 357: 355: 349: 346: 342: 338: 335:, which in a 334: 324: 322: 318: 314: 309: 307: 301: 299: 294: 292: 288: 284: 280: 275: 271: 268: 267:variable rate 263: 261: 253: 248: 243: 233: 231: 227: 223: 218: 216: 212: 208: 204: 200: 195: 193: 188: 184: 183:trade deficit 180: 175: 172: 167: 162: 160: 156: 152: 148: 144: 140: 136: 127: 123: 111: 107: 104: 96: 90: 86: 82: 78: 74: 71: 68: 64: 60: 57: 54: 53: 47: 41: 39: 34:You can help 30: 21: 20: 5667: 5654:Coat of arms 5551:Bullfighting 5541:Architecture 5508:Prostitution 5468:Homelessness 5443:Demographics 5397:Trade unions 5356: 5335:unemployment 5320:Car industry 5252:Human rights 5200:Constitution 5156: 5102: 5082:ranked lists 4994:1975–present 4520: 4430:October 2008 4312:Samba effect 4168:(1987–2000s) 4063:Steel crisis 3886:Black Monday 3864:Encilhamento 3804:Black Friday 3611: 3567:(235–284 CE) 3435:Credit cycle 3293:Hidden loans 3152: 3037: 3015: 3005: 2993:. Retrieved 2989: 2979: 2967:. Retrieved 2963: 2953: 2941:. Retrieved 2937: 2927: 2915:. Retrieved 2911:the original 2904: 2877: 2868: 2859: 2850: 2826: 2816: 2807: 2797: 2785:. Retrieved 2781:the original 2777:Businessweek 2776: 2767: 2758: 2748: 2739: 2729: 2721: 2717: 2707: 2698: 2677: 2667: 2658: 2648: 2639: 2629: 2620: 2610: 2601: 2591: 2583:The Guardian 2582: 2573: 2564: 2554: 2545: 2536: 2527: 2517: 2498: 2487:, retrieved 2483:the original 2478: 2468: 2456:, retrieved 2447: 2437: 2428: 2419: 2410: 2400: 2388:. Retrieved 2384:the original 2374: 2365: 2356: 2347: 2338: 2329: 2316: 2308:the original 2304:Businessweek 2303: 2293: 2284: 2274: 2264:27 September 2262:. Retrieved 2257: 2248: 2237:, retrieved 2235:(in Spanish) 2230: 2220: 2209:, retrieved 2200: 2191: 2180:, retrieved 2175: 2166: 2155:, retrieved 2153:(in Spanish) 2148: 2138: 2129: 2119: 2105: 2096: 2087: 2078: 2068: 2060:the original 2055: 2045: 2036: 2026: 2018:UK Telegraph 2017: 2007: 1998: 1988: 1979: 1969: 1960: 1950: 1938:. Retrieved 1934: 1924: 1912:. Retrieved 1908:the original 1898: 1887:, retrieved 1882: 1872: 1861:, retrieved 1857:the original 1852: 1843: 1832: 1823: 1811:. Retrieved 1807: 1797: 1788: 1778: 1769: 1746: 1739: 1729:27 September 1727:. Retrieved 1723:the original 1713: 1703:27 September 1701:. Retrieved 1694:the original 1681: 1671:27 September 1669:. Retrieved 1665:the original 1655: 1643:. Retrieved 1638: 1617: 1594: 1585: 1575: 1565:27 September 1563:. Retrieved 1559:the original 1549: 1540: 1530: 1521: 1512: 1503: 1493: 1481:. Retrieved 1476: 1467: 1455:. Retrieved 1450: 1441: 1429:. Retrieved 1424: 1415: 1403:. Retrieved 1396:the original 1383: 1371:. Retrieved 1366: 1348:. Bloomberg. 1339: 1327:. Retrieved 1323: 1314: 1303:, retrieved 1299:the original 1294: 1284: 1266: 1256: 1245:, retrieved 1238: 1228: 1220:Russia Today 1219: 1213: 1204: 1162: 1153: 1141:. Retrieved 1136: 1124: 1057:(in Spanish) 1044:(in Spanish) 1031:(in Spanish) 995: 979:independence 976: 963: 959: 955: 942: 902: 894: 889:basis points 882: 839: 827: 803: 792: 779: 765: 748: 745:, March 2012 549: 542: 540: 537: 529: 522: 486: 475: 451: 432: 417: 408: 403: 399: 393: 384: 380: 369: 354:buying power 350: 333:fossil fuels 330: 310: 306:deed-in-lieu 302: 295: 276: 272: 264: 257: 222:Mario Draghi 219: 196: 185:, a loss of 176: 163: 142: 138: 134: 132: 122: 85:edit summary 76: 43: 35: 5473:Immigration 5463:Health care 5325:Communities 5310:Agriculture 5110:Earthquakes 4969:Restoration 4939:Reconquista 4707:(2017–2018) 4692:(2016–2022) 4648:(2014–2022) 4408:(2007–2009) 4373:(2003–2008) 4322:(2000–2004) 4271:(1994–1996) 4249:(1992–1994) 4234:(1991–2000) 4198:(1990–1992) 4190:(1990–1992) 4160:(1986–1995) 4123:(1982–1994) 4113:(1982–2007) 4095:(1980–1982) 4073:(1975–1982) 4065:(1973–1982) 4036:(1973–1980) 4026:(1973–1982) 3997:(1945–1973) 3962:(1921–1923) 3954:(1917–1924) 3944:(1918–1939) 3866:(1890–1893) 3819:(1870–1914) 3761:(1845–1856) 3721:(1815–1816) 3670:(1769–1784) 3653:(1760–1840) 3616:(1621–1623) 3598:(1544–1551) 3580:(1000–1760) 3479:Flash crash 3449:Debt crisis 3247:UK students 816:Public debt 806:Arab Spring 566:Legislature 435:Landesbanks 313:ghost towns 291:Extremadura 5724:Categories 5591:Mass media 5586:Literature 5478:Irreligion 5458:Euthanasia 5448:Disability 5230:Government 5205:Corruption 5027:Golden Age 3500:Accounting 3261:Background 3106:By country 2917:1 November 2787:19 October 2512:, May 2009 2390:1 November 2348:www.ine.es 1914:8 November 1483:27 October 1457:16 October 1431:15 October 1117:References 40:in Spanish 5581:Languages 5483:Languages 5453:Education 5402:Transport 5242:Elections 5225:Judiciary 5164:Provinces 5061:Geography 5042:Civil War 4949:Expansion 4758:Recession 3751:1840–1870 3174:By region 3167:Responses 2411:USA Today 1645:30 August 1405:19 August 1277:0307-1766 1205:Bloomberg 1143:25 August 1010:Artur Mas 983:Catalonia 945:Eurogroup 501:NCG Banco 462:Olli Rehn 345:deflation 298:mortgages 287:Catalonia 277:When the 192:recession 103:talk page 5704:Category 5565:Fiestas 5513:Religion 5498:Pensions 5493:Naturism 5433:Abortion 5372:Taxation 5362:Forestry 5274:Monarchy 5269:Military 5262:Intersex 5183:Politics 5169:Wildlife 5104:Comarcas 5037:Military 5032:Economic 5005:By topic 4911:Timeline 4894:articles 3414:Bank run 3210:Specific 3191:Portugal 3143:Portugal 3050:Archived 2699:BBC News 2506:Archived 2452:archived 2205:archived 2201:BBC News 1586:BBC News 1367:BBC News 1020:See also 842:bail out 752:minijobs 724:−11.69% 604:−11.20% 593:−11.57% 582:Zapatero 513:bad bank 439:Barclays 428:mortgage 283:Eurostat 252:A Coruña 79:provide 5688:Outline 5641:Symbols 5561:Cuisine 5533:Culture 5421:Society 5392:Tourism 5298:Economy 5137:Islands 5120:Forests 5098:Climate 5093:Borders 4902:History 3514:Funding 3507:Capital 3186:Ireland 3158:Ukraine 3133:Ireland 3128:Iceland 3113:Belgium 3039:El País 2232:El País 2150:El País 1883:El País 1813:27 July 1635:"Spain" 1240:El País 899:Ratings 789:Tourism 718:2016 Q1 713:−8.29% 707:2015 Q1 702:−3.75% 696:2014 Q1 691:11.37% 685:2013 Q1 680:14.75% 674:2012 Q1 656:2011 Q1 651:15.08% 645:2010 Q1 640:79.58% 634:2009 Q1 626:14.01% 620:2008 Q1 615:−6.76% 609:2007 Q1 598:2006 Q1 587:2005 Q1 161:(ESM). 141:or the 101:to the 83:in the 42:. 5709:Portal 5649:Anthem 5556:Cinema 5503:People 5352:Energy 4892:  4684:(2016) 4330:(2001) 4314:(1999) 4131:(1982) 3970:(1927) 3917:(1910) 3888:(1894) 3858:(1890) 3850:(1886) 3806:(1869) 3640:(1720) 3632:(1720) 3624:(1637) 3521:Market 3249:(2010) 3243:(2010) 3237:(2010) 3231:(2010) 3225:(2009) 3219:(2009) 3181:Greece 3148:Russia 3138:Latvia 3123:Greece 3118:Cyprus 3099:Europe 3056:, the 2995:6 June 2969:6 June 2943:7 June 2489:14 May 2458:14 May 2239:14 May 1940:25 May 1853:Forbes 1373:9 June 1329:1 July 1295:Forbes 1275:  1139:. 2012 876:  870:  864:  858:  721:21.00% 710:23.78% 699:25.93% 688:26.94% 677:24.19% 667:10th ( 662:6.25% 659:21.08% 648:19.84% 637:17.24% 590:10.17% 569:Period 503:, and 497:Bankia 445:, and 424:Bankia 327:Prices 5695:Index 5621:Sport 5596:Music 5523:Women 5438:Crime 5315:Banks 4944:Union 4890:Spain 3358:See: 3346:PIIGS 3196:Spain 3153:Spain 2528:ZDNet 2211:2 May 2182:2 May 2157:2 May 1889:2 May 1863:2 May 1697:(PDF) 1690:(PDF) 1399:(PDF) 1392:(PDF) 1305:2 May 1247:2 May 1133:(PDF) 1075:SAREB 669:Rajoy 623:9.60% 612:8.42% 601:9.03% 580:8th ( 533:Italy 404:cajas 400:cajas 394:cajas 151:Spain 63:DeepL 5662:Flag 5518:Time 5407:Wine 5257:LGBT 4451:2009 3556:1000 3554:Pre- 2997:2012 2971:2012 2945:2012 2919:2012 2906:CNBC 2789:2011 2491:2009 2460:2009 2392:2012 2266:2009 2241:2009 2213:2009 2184:2009 2159:2009 1999:CNBC 1942:2012 1916:2012 1891:2009 1865:2009 1815:2012 1731:2009 1705:2009 1673:2009 1647:2012 1567:2009 1485:2012 1459:2012 1433:2012 1407:2012 1375:2012 1331:2012 1307:2009 1273:ISSN 1249:2009 1145:2016 996:The 921:DBRS 782:OECD 205:and 133:The 77:must 75:You 56:View 5546:Art 5330:GDP 3097:in 3016:CNN 2097:BBC 981:in 559:INE 482:ECB 447:ING 207:IMF 203:ECB 65:or 5726:: 3036:. 3014:. 2988:. 2962:. 2936:. 2903:. 2892:^ 2867:. 2849:. 2835:^ 2825:. 2806:. 2775:. 2757:. 2738:. 2720:. 2716:. 2697:. 2686:^ 2676:. 2657:. 2638:. 2619:. 2600:. 2581:. 2563:. 2544:. 2526:. 2477:, 2446:, 2427:. 2409:. 2364:. 2346:. 2328:. 2302:. 2283:. 2256:. 2229:, 2199:, 2174:, 2147:, 2128:. 2095:. 2077:. 2054:. 2035:. 2016:. 1997:. 1978:. 1959:. 1933:. 1881:, 1851:, 1831:. 1806:. 1787:. 1768:. 1756:^ 1637:. 1626:^ 1616:. 1605:^ 1584:. 1539:. 1520:. 1502:. 1475:. 1449:. 1423:. 1365:. 1354:^ 1322:. 1293:, 1271:, 1265:, 1237:, 1203:. 1191:^ 1171:^ 1161:. 1135:. 848:. 671:) 584:) 561:) 499:, 441:, 319:, 201:, 5084:) 5080:( 4882:e 4875:t 4868:v 4107:/ 3394:e 3387:t 3380:v 3087:e 3080:t 3073:v 3018:. 2999:. 2973:. 2947:. 2921:. 2886:. 2853:. 2829:. 2810:. 2791:. 2761:. 2742:. 2680:. 2661:. 2642:. 2623:. 2604:. 2567:. 2530:. 2413:. 2394:. 2368:. 2350:. 2332:. 2287:. 2268:. 2132:. 2081:. 2039:. 2020:. 2001:. 1982:. 1963:. 1944:. 1918:. 1817:. 1791:. 1772:. 1733:. 1707:. 1675:. 1649:. 1620:. 1588:. 1569:. 1543:. 1506:. 1487:. 1461:. 1435:. 1409:. 1377:. 1333:. 1207:. 1165:. 1147:. 396:) 254:. 112:. 105:.

Index

the corresponding article
View
DeepL
Google Translate
copyright attribution
edit summary
interlanguage link
talk page
Knowledge:Translation

2007–2008 financial crisis
Spain
European sovereign debt crisis
European Stability Mechanism
Spain's crisis was the housing
International Accounting Standards Board
ruling party changed in 2004
trade deficit
competitiveness
recession
European Commission
ECB
IMF
European Stability Mechanism
European Central Bank
Mario Draghi
Outright Monetary Transactions
Speculative runs
Spanish property bubble

Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.