Spain Was a Warning: What We CanLearn

in 2006, Spain's economy was booming,
experiencing unparalleled growth since the turn
of the millennium. With per capita output more
than doubling in just six years, some economists
predicted that Spain could surpass Germany in per
capita income within five years, positioning itself as
a central power in Europe
The real estate sector thrived, with agents becoming
ocal celebrities and tradespeople in high demand
However, this growth was unsustainable. The
global financial crisis (GFC) and the Eurozone crisis
abruptly ended debt-fueled expansion. Nearly two
decades later, Spain's economy remains weaker than
in 2007. High unemployment, stagnated economic
activity, and persistent debt struggles paint a grim
picture.
Spain's story serves as a cautionary tale. This
raises critical questions: What fueled Spain's rapid
economic growth? What led to its dramatic downfall?
Why has the recovery been so slow?