The Origin Of Spain's Current Economic Crisis

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On the Origin of Spain’s current Economic Crisis The economy of Spain has taken a downturn in 2011 since the fifteenth and sixteenth centuries. Unlike the fifteenth and sixteenth centuries, where Spain was a global empire, modern Spain is facing a very stagnant economy. Spain’s “unemployment rate reached a record of 27 percent” in 2011. This shows that more than 1 in 5 Spaniards is struggling to feed their family. Luckily, things had gotten better. The October 2015 unemployment report shows that the number of those who are not working is down to 21.2 percent according to “Spain’s unemployment falls, and Rajoy’s prospects Rise” by Raphael Minder. The increase in jobs was mostly seasonal; and created only by…show more content…
The moors took over Spain in the year 711, starting with the fall of Granada. But the tension between religious group continue to grow until the rise of the Cid, when the Christian regains full control of Spain (Poem of the Cid); but even then, Spain’s economy was not as great as the fifteen and sixteen century, because the conflict between between Spaniard of different belief might have slowed down the trading of goods, which predict Spain’s current economic turnover as the country is struggling to put its people to work. Spain’s historical glory did not prevent it from current economic crisis. Spain was the first global empire in the fifteenth and sixteenth centuries. Spanish emperor traded across the Atlantic and Pacific Ocean. Spain also owned vast territories in North and South America, as well as part of Africa. The Spanish empire became the most prominent superpower, dominating most of the world. This allowed Spanish people at the time to enjoy a cultural golden age during the fifteenth and sixteenth centuries; but this glorious moment did not last longer to prevent Spain’s current economic downfall. Despite suffering an economic downturn, Spanish empire remained the largest in the world until the eighteenth centuries. The Civil War causes Spain’s global power to drop as their economy decreases, until the day Francisco Franco took over in 1939. Franco ruled Spain from 1939 until his
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