How Spain Recovered from the Economic Crisis – SPIEGEL ONLINE

English: Map of Spain

English: Map of Spain (Photo credit: Wikipedia)

This is a powerful and insightful article from Spiegel. It’s a recommended read. Check it out!

via How Spain Recovered from the Economic Crisis – SPIEGEL ONLINE.

Spain, like Ireland and Portugal is a case study on the effectiveness of reform and austerity policies. Economically, Spain is becoming a model, with powerful, internationally competitive industries. Unfortunately, unemployment continues to be a deep problem in Spain. The current conservative government in Spain has been responsible for the strong policies, in contrast to the deep damage done to Spain by the previous socialist government.

Spain, of course, is contrasted to Greece where there has also been austerity but less real reform. Meanwhile, socialists in Spain are looking to Greece as an example.

Thoughts?