FINANCIAL CRISIS AND
UNEMPLOYMENT IN SPAIN
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BATSA EVANGELIA (2469)
KAZELOGLOU STAVROULA (2395)
KALFA GEORGINA (2404)
STERGIOU MARIA LOUIZA (2520)
CONTENTS :
1.
Introduction……………………………………………….3
2.
Reasons for Spanish Economic Crisis…………………4
3.
Consequences……………………………………………...5
4.
Unemployment……………………………………………6
5.
References…………………………………………………7
2
1) INTRODUCTION

The collapse of “Lehman Brothers” Bank affected word’s
economy.

In Europe the mostly affected countries were Greece, Italy,
Portugal and Spain.

Spain was a powerful economy and when economic crisis ‘’hit’’ it,
many countries tried to exploit it’s problem.

There is no question of bankruptcy or suspension of payments,
but the results were rapid.
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2) REASONS FOR SPANISH ECONOMIC
CRISIS

Spain’s regional governments had revenues so they were used to
spend much money that after 2008 crisis they could not pay out.

The credit crunch caused a plunge in the value of the assets the
loans were based on, and meant borrowers had trouble making
repayments .

The situation went worse by the fact that banks riskily borrowed
money on the international markets to lend in developers and
homebuyers.

The low demand of bonds and banks’ weakness led to a debt
increase.
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3) CONSEQUENCES

A big amount of enterprises announced bankruptcy.

“Red loans” could not be paid out.

Surplus in Spain turned into a deficit in a few months.

Spanish households cannot respond to their needs.

Exports have dramatically reduced unlike imports.

Outbreaks of mental disorders have increased.

Recession have led to an exclusion of their health rights a big
number of Spaniards.
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4)UNEMPLOYMENT
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5) REFERENCES
Internet:
i.
http://rt.com/op-edge/radicalization-of-protests-in-spain-809/
ii.
http://www.theguardian.com/world/2014/jan/23/spain-unemployment-rise-26-percent
iii.
http://www.washingtonpost.com/blogs/wonkblog/post/faq-why-is-spain-now-in-crisis-andcan-it-be-fixed/2012/05/30/gJQAYmAw1U_blog.html
iv.
http://www.doiserbia.nb.rs/img/doi/1452-595X/2011/1452-595X1103309C.pdf
v.
http://econpapers.repec.org/article/vojjournl/v_3a58_3ay_3a2011_3ai_3a3_3ap_3a309328.htm
vi.
http://www.bbc.com/news/business-17753891
vii.
http://www.bbc.com/news/business-17549970
viii.
http://www.tradingeconomics.com/spain/unemployment-rate
ix.
http://www.datosmacro.com/paro-epa/espana
x.
http://www.datosmacro.com/paro/espana
xi.
http://www.datosmacro.com/paro/espana?sc=LAB-&sector=Paro\
xii.
http://buuea.com/unemployment-in-spain-after-the-financial-crisis/
xiii.
http://edition.cnn.com/2013/04/25/world/europe/spain-unemployment/
xiv.
http://www.empleo.gob.es/es/estrategia-empleo-joven/archivos/Analisis_de_Contexto.pdf
xv.
http://www.bbvaresearch.com/KETD/fbin/mult/WP_1131_tcm348-270325.pdf?ts=2642012
xvi.
http://www.huffingtonpost.com/2012/01/27/spain-unemployment-rate-affects-1-4workers_n_1237693.html
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THANK YOU
FOR YOUR
ATTENTION!
BECAUSE IT DOESN’T MATTER IF YOU ARE
JOBLESS
BECAUSE IT DOESN’T MATTER IF YOU ARE
JOBLESS!
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