Spain is regarded as Europe’s next Greece (Flamini, 2012). The political turmoil in the country has significantly been affected by the country's economy. The country had a yearlong economic crisis that propelled the rate of unemployment to rise. This negative economic environment forced some of its labor force to migrate to other countries in search of job opportunities.
Additionally, the country experiences an inadequate health care system. A bigger percentage of the children in the country experience malnutrition since their parents cannot afford a balanced diet for their families.
Crime is a characteristic of a failing economy. The levels of crime have gone up in Barcelona, one of Spain's large cities. On average about 70 people are robbed daily. However, when tourists come to visit, the number of people robbed shoots up to about two hundred and fifty people.
Spain has made a lot of progress to reduce the already negative economic situation in the country (Bloomberg Editors, 2015). The country achieved a 0.8 percentage growth by the end of 2016. Economist believed that the economy would have had a higher growth rate of about 3.5 percent if the political situation in the country had been certain (Neumann, 2016). Moreover, these same economists still project a 2.3 percentage growth of the country’s economy by the end of 2017.
For the economic situation to improve, The Spanish central government should unite all the local governments so that they can work together finding solutions in which they can strengthen the country’s economy (The Economist, 2014).
Last year, Spain managed to improve its economy slightly (Neumann, 2016). The European Central Bank was the main reason why the Spanish economy improved. It pledged some money to enable the country to get rid of its debt crisis and to improve its economy. Reforms in the central government also enabled the country to recover economically (Bloomberg Editors, 2015). A major characteristic of the improvement in the country’s economy is an increase in the number of people being employed yearly. Spain, therefore, proves to its critics that it has no similarity with the failed economy of Greece.
References
Bloomberg Editors,. (2015). How Spain Fixed Its Economy. Bloomberg View. Retrieved 25 January 2017, from https://www.bloomberg.com/view/articles/2015-08-04/how-spain-fixed-its-economy
Flamini, R. (2012). The Next Greece? A Sketch of Spain. World Affairs Journal. Retrieved 25 January 2017, from http://www.worldaffairsjournal.org/article/next-greece-sketch-spain
Neumann, J. (2016). Why Is Spain’s Economy Expanding So Robustly Without a Government?. WSJ. Retrieved 25 January 2017, from http://www.wsj.com/articles/why-is-spains-economy-expanding-so-robustly-without-a-government-1472136858
The Economist,. (2014). The Economist - World News, Politics, Economics, Business & Finance. The Economist. Retrieved 25 January 2017, from http://www.economist.com/news/europe/21600721-economy-improving-it-still-has-long-way-g
