Magical Business Documents

The summer holidays are over and have dropped the data on the evolution of the Spanish economy in the first half of the year. Unfortunately, there are very encouraging, especially when compared with those of other countries in the Euro land.

These data confirm that Spain lags behind in the train of recovery from the crisis, its economy being one of the hardest hit.

As is known, the problem of the Spanish economy is quite unique. Indeed, if the global economic crisis has added to a deep structural crisis of the economy initiated earlier with the collapse of the construction sector, the main engine of growth, following the bursting of the housing bubble.

By the weight of that sector, the decline of its activity has profoundly affected the evolution of the economy as a work stoppage conjunto.El has exploded in all activities related to construction, which has a detrimental impact on consumption. In the end, the other branches of activity the market has made have come to also enter recession, intensifying it with the outside according to the degree of internationalization of the sector.

Moreover, the recession has been heightened in Spain by the crisis of credit. Banks and savings, too engaged in real estate financing (development companies and contractors, private buyers), have drastically curtailed credit. First, those related to housing activity rising defaults of their clients, some for lack of market and other depreciation in value of property assets to ensure credit. Subsequently, loans to other sectors as they reached the recession, and the difficulty in refinancing the occurrence liquidity in interbrain markets and national and international financial result of the crisis of sub prime Americans.

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