“Spain’s over reliance on the construction and property sector made it’s economy more vulnerable in the down turn “
Agree, what I fail to understand is that did Spain not know or realise that nothing is forever in life including sector’s of economy. They just felt that they could keep on building to eternity. The boom gave them an opportunity to diversify & update their out dated legislations. They did not !!! as they thought were onto a good thing. The Spanish I spoke to felt that the whole world will come to live in Spain, as if other countries will be totally empty & devoid of people & the balance of world population will shift to Spain.
“Subsequent slow down in other economic sectors are a knock on effect from the root cause.”
Yes to an extent. However as said above no effort was made to diversify the economy, train people.
“The world is unlikely to see again easy cheap credit being available to governments, corporations and individuals on the previous scale “
“The tolerance the Spanish people have previously shown in the face of the austerity measures “
The Spanish people are no less or more tolerant than the French or the Itailans. The difference is that the majority of Spanish had not been directly affected by the crises as they live with parents, take money from the parents for going out etc, borrow parents cars, go to holidays with parents, expects that the parents will leave the property etc to their children & not equivelent to Battersea dog’s home “. The mother of all they live for the day & anything that interfere with their instant enjoyment is ignored by “pasa nada” or some political dogma.
“Had the same measures been taken in France or Italy, strikes and riots would bring those countries to a stand still “
I agree. In UK we will not take such action as we will be told its against the law, irrespective if the laws are their to supress the people. Using the law for supressing peoples wishes, aspirations in my opnion is second best to dictatorship.
I think it gives the Spanish people a great deal of credit.
Yes and about time too.