The Spanish Hangover

Daniel Gros, Cinzia Alcidi
Content Type
Policy Brief
Centre for European Policy Studies
Spain faces high unemployment and slow growth. This paper focuses on an important source of those problems, namely its housing market. While some adjustment has occurred since Spain's housing bubble burst in 2008, the authors find that house prices and construction need to decrease more to slow Spain's unsustainable accumulation of foreign debt.
Debt, Economics, Markets, Financial Crisis
Political Geography
Europe, Spain