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Unfinished buildings due to the crisis in A Coruña.. The residential real estate bubble saw real estate prices rise 200% from 1996 to 2007. [19] [20]€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 variable rate interest).
Public debt $ and %GDP (2010) for selected European countries Government debt of Eurozone, Germany and crisis countries compared to Eurozone GDP. The European sovereign debt crisis resulted from a combination of complex factors, including the globalization of finance; easy credit conditions during the 2002–08 period that encouraged high-risk lending and borrowing practices; the 2007–2008 ...
Unlike other European countries that were also severely hit by the Great Recession in the late 2000s and eventually received bailouts in the early 2010s (such as Greece and Ireland), Portugal had the characteristic that the 2000s were not marked by economic growth, but were already a period of economic crisis, marked by stagnation, two ...
Unemployment rates in Spain rose sharply during the late 2000s and early 2010s. Unemployment was at 8% between 2006 and 2007. Starting in 2008, the Spanish economic crisis caused the rate to rise past 20% in 2010 and 25% in 2012.
Journal of Economic Perspectives 23 (1), pp. 77–100. Paul Krugman (2008), The Return of Depression Economics and the Crisis of 2008. ISBN 0-393-07101-4. "The myths about the economic crisis, the reformist left and economic democracy" by Takis Fotopoulos, The International Journal of Inclusive Democracy, vol 4, no 4, Oct. 2008. United States ...
According to the article, “Spain’s Chinese Immigrants Thrive in Tough Economy,” in The New York Times, “in a time of economic crisis, ubiquitous low-margin Chinese-owned bazaars, hairdressers, and supermarkets have become a lure for cost-conscious Spanish consumers.” [10] In fact, success wasn't just limited to small-store owners; it ...
Many small business owners dream of taking home $6,500 in a month -- even a particularly good month. And a lean month of making between $2,000 and $3,000? They'd take it happily. That's exactly the...
The president of the Chambers regretted that the Spanish financial system did not admit the impact of the crisis on their assets; the Bank of Spain affirmed that it was the responsibility of the whole financial sector: "In Spain, it was never wanted to recognize that the financial system was not in good shape, as this would have forced the ...