The Biggest Recession in the History of Spain (2007-2014)

Since the American media does not pay closely attention to the reality of the current situation in Spain. And considering that I’m an exchange student coming from there, I have decided to report a quick overview of what is really going on.

In 2007, the world entered into a financial and economical crisis. This crisis specially  harmed out Europe, and attacked all those countries belonging the Euro zone with the lowest economies, such as Greece, Portugal or Ireland. Those were the first countries to fall, eventually Italy and Spain with big economies but lack of stability were the next to fall.

During the next years in Spain, the left-wing political party was ruling the country, and after one year, they were still denying that there were no economical crisis. Eventually, due to rapid drop of capital, and insanely fast un-employment, a rescue had to be carried away with the advices of the European Union. We were borrowing tonds of money from Germany and the European Central Bank, and apart of that they made us set a series of financial reductions to the education, public healthcare, and economy. Which are nowadays, worsening the quality of life of millions of Spanish, from the point were families of the middle/high class are today entering the doors of poverty, and I have actually seen that within my group of people.

Anyways, the political party who rules Spain had changed a few years ago, since we thought that since the left wing party missed it up, maybe the right wing party will improve the situation…but no! All it has happened was a even faster drop of the country’s situation by raising un-employment to more than 6 million people.

But if you think this is all you are missing something. As you may or maybe not know, Spain has had a monarchy since the dictator Franco died. Today’s real family, (king’s family) has been accused of corruption. And not only that, but one of the king’s daughter and her husband have been imputed as guilty for “stealing” money from the Spanish population and keeping it out of Spanish borders. Each time, the number of Spanish who think that the king Juan Carlos was aware of her daughter’s corruption increases, and each time the percentage of Spanish people who wants the resignation from the king also increases!


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