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SPAIN

Stephanie Dsouza 1010

Spain is the second largest country in Western Europe. It is a developed country with the twelfth largest economy in the world by nominal GDP. A very high living standards, including the tenthhighest quality of life index rating in the world, as of 2005. The two largest cities in Spain are Madrid and Barcelona, Madrid being the capital. It is a member of the United Nations, European Union, NATO, OECD, and WTO.

Geography
Spain is the world's 51st-largest country. On the west, Spain borders Portugal. On the south, it borders Gibraltar (a British overseas territory) and Morocco. Spain also includes the Balearic Islands in the Mediterranean Sea, the Canary Islands in the Atlantic Ocean. The Spanish territory is divided into 50 provinces. Spain has a mild climate, extensive coastlines.

Culture
Modern, conservative, stylish Life is slow paced Roman Catholic 94% Spain likes its sports particular soccer. Spanish life is lived in the streets, street cafes and bars. The dish for which Spain is most famous is paella.

Bullfighting is considered an art in Spain. It is one of the popular attractions and the biggest and most controversial sports in Spain. Flamenco, is the musical genre in Spain that uses rapid passages and intricate footwork.

Government
Spain is a democracy organised in the form of a parliamentary government under a constitutional monarchy. Head of State King Juan Carlos I, since 22 November 1975 Head of Government Prime Minister of Spain: Mariano Rajoy Brey, elected 20 November 2011. Deputy Prime Minister and Minister for the Presidency: Soraya Senz de Santamara. Cabinet Council of Ministers designated by the Prime Minister.

Economy
Spain's capitalist mixed economy is the twelfth largest worldwide and the fifth largest in the European Union, as well as the Eurozone's fourth largest. Spain is traditionally an agricultural country, and a significant manufacturer of farm commodities. Agriculture, including forestry and fishing account for 5% of the labour force. Spain is the world's leading olive grower: the olives are used to produce top grade olive oil and are also pickled and eaten as a condiment. After almost 15 years of above average GDP growth, the GDP contracted by 3.7% in 2009, ending a 16-year growth trend, and by another 0.2% in 2010, making Spain the last major economy to emerge from the global recession.

The reversal in Spain's economic growth reflected a significant decline in construction amid an oversupply of housing and falling consumer spending, while exports actually have begun to grow. The government budget deficit worsened from 3.8% of GDP in 2008 to 9.2% of GDP in 2010, more than three times the euro-zone limit. The government oversaw a restructuring of the savings bank sector in 2010, and provided some $15 billion in capital to various institutions. The rate of taxation is 19% for individuals Public Limited Company Minimum 25% paid up share capital. Minimum 60,121 Euros authorised share capital. Private Limited Company Minimum share capital 3,006 Euros.

Foreign Relations
As a member of NATO since 1982, Spain has established itself as a major participant in multilateral international security activities. Spain's EU membership represents an important part of its foreign policy. Even on many international issues beyond western Europe, Spain prefers to coordinate its efforts with its EU partners through the European political cooperation mechanisms.

Energy
Spain is one of the world's leading countries in the development and production of renewable energy. In 2010 Spain became the solar power world leader when it overtook the United States. Spain is also Europe's main producer of wind energy.

Gracias

References
http://en.wikipedia.org/wiki/Spain http://funfacter.hubpages.com/hub/Fun-Facts-aboutSpain http://www.spainaccountants.com/ct.html http://www.indexmundi.com/spain/economy_profile.html