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Class 24 Economics Crisis in Spain.

Class 24 Economics Crisis in Spain. - The crisis only...

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The crisis only strengthens the case for reform (see article ). But it also means that reform must take place against the background of austerity, as societies struggle to determine who will shoulder the burden of debt. The darkening clouds of civil disobedience and anarchy confronting Greece’s new government show where this struggle can lead. Europe’s future depends not just on governments putting forward the right policies but on the capacity of democracies to bring about peaceful change. How to gain in Spain How might reform work? Again, consider Spain. Reform there should stand a good chance. The country has done well out of EU membership. After it joined in 1986, incomes caught up with the rest of the union. Its large exporters have remained an island of efficiency, as competitive as any in Europe. Spain recently signalled its commitment to the euro zone by writing a cap on future deficits into the constitution.
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