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  • What Happened Here

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    George K Sanchez
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    1. The origins of the economic crisis in Spain were a lack of honesty, economic irresponsibility without government control, and rising unemployment and falling economic activity. 2. European policies forced governments to cut social spending, which exacerbated the crisis. Spain's debt rose as the government spent on public waste and borrowed from central banks and markets to support failing banks. 3. Much public money in Spain has been wasted, such as billions given in grants and subsidies to private banks, companies, the Catholic Church, and political parties.

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    1. The origins of the economic crisis in Spain were a lack of honesty, economic irresponsibility without government control, and rising unemployment and falling economic activity. 2. European policies forced governments to cut social spending, which exacerbated the crisis. Spain's debt rose as the government spent on public waste and borrowed from central banks and markets to support failing banks. 3. Much public money in Spain has been wasted, such as billions given in grants and subsidies to private banks, companies, the Catholic Church, and political parties.

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    10 views2 pages

    What Happened Here

    Uploaded by

    George K Sanchez
    1. The origins of the economic crisis in Spain were a lack of honesty, economic irresponsibility without government control, and rising unemployment and falling economic activity. 2. European policies forced governments to cut social spending, which exacerbated the crisis. Spain's debt rose as the government spent on public waste and borrowed from central banks and markets to support failing banks. 3. Much public money in Spain has been wasted, such as billions given in grants and subsidies to private banks, companies, the Catholic Church, and political parties.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPTX, PDF, TXT or read online from Scribd
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    of 2

    What happened here

    OriginLack of honesty & econmical irresponsabilty with no government control

    1 year =

    Drop real state Rise unemployment Drop economical activity

    Europe policy Political strategies forcing States to cut social rights Began before with House Bubbling Spain:

    2007/2008 raise public waste to sort out the crisis effects => Debt raised Resort to central banks/markets success of banks &speculators with government support Spain is slaved by banks Possible Solution directly fight fraud & tax evasion Debt situation today 82% private debts accounts 18% debt remaining

    Wasted money in Spain


    Migrants = hope
    105 per person/year Balance on our behalf 6000 millions /year

    2,7 billion given,still not returned


    850,000 -900,000 million Spanish citizens need toprivate banking. 1.22 billion = debt of private companies in Spain. 26,000 million = debt of the Ministry of Defence PP (23,000 million) and PSOE(3,000). 10 billion of public funds Catholic Churchconcessions, privileges and grants. 2,840 million = education in 2011. 8 million is for the Spanish crown to the general budgetthe state. 6.88 million for the subsidy received from the public funds for political propaganda foundations of bipartisanship: FAES (PP) and Ideas (PSOE).

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