Interesting points. The one that caught my eye was point 2
when Spain’s competitiveness dropped drastically between1998 and 2007, numerous gurus said off the record that it was because the cost of labor units had risen faster than that of our trading partners, and that therein lay the origin of our crisis. What they didn’t mention, however, is that said rise was due to a statistical quirk resulting from the creation of masse employment in the construction sector, where low levels of productivity per capita where the norm, and that this is what pushed Spain’s competitiveness figures down. The Ford factory in Valencia, for example, continued to be just as competitive. This is why Spain managed to maintain its world share of exports during these “bad” years, while the same cannot be said of the UK, Italy or France.
and the final bit…
Spain will not exit the crisis if it is led by vacuous state figures, no matter how much they say that it was they who saved the day when it is eventually all behind us. Spain will be led out of this by anonymous people who spend their lives in planes, opening up markets for Spanish products by means of sheer determination.
Everything you need to know about property in Spain
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