1. The economic crisis in Spain Montserrat Torres. Current Affairs. Universität Konstanz.
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3. Why has it come so far? There are two main causes : - The coincidence of a financial crisis caused by global fall U.S. stock market - The collapse of the building business
4. Economic crisis or accumulation of other little crisis? To the economic crisis we should add: - Credit or financial crisis - Mortgage Crisis - Crisis of confidence in markets - Global Food Crisis
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7. What kind of impact does it have? - Destruction of jobs: 3.128.900 unemployed - Rise of morosity from 3.3% to 5.4% - GDP fall of 3.8% to 0.9% - ICC fall of 72.3% to 48.9% (International Chamber of Commerce) - Drop in the number of members of the Social Security
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17. How long will it last? There are doubts about its permanence. Depend on the measures taken by: The European Central Bank The U.S. Federal Reserve The national government The consumers’ confidence appears to be a key factor in the recovery of markets
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