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The ratings agency cited massive debt and soft economic growth as the main factors behind the downgrade. Overview from BARNES&NOBLE (barnesandnoble.com). Finally, the tax structure and fiscal rules should be enhanced to ensure long-term fiscal sustainability. As of 2013, Spain was approaching 100 percent of GDP in debt, having tripled its debt ratio since the beginning of the crisis. [292] The Spanish economic crisis was an archetype of the 2000s crisis narrative: a huge accumulation of risk fueled by a too-expansive monetary policy over an extended period of time, which distorted the behavior of investors, consumers, savers, and—most dangerously—government.

Pages: 44

Publisher: Berrett-Koehler Publishers; Booklet edition (July 18, 2000)

ISBN: 1583760423

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