Matches in DBpedia 2016-04 for { <http://dbpedia.org/resource/2008–15_Spanish_financial_crisis> ?p ?o }
- 2008–15_Spanish_financial_crisis abstract "The 2008–15 Spanish financial crisis, also known as the Great Recession in Spain or the Great Spanish Depression began in 2008 during the world financial crisis of 2007–08. In 2012 it made Spain a late participant in the European sovereign debt crisis when the country was unable to bailout its financial sector and had to apply for a €100 billion rescue package provided by the European Stability Mechanism (ESM).The main cause of Spain's crisis was the housing bubble and the accompanying unsustainably high GDP growth rate. The ballooning tax revenues from the booming property investment and construction sectors kept the Spanish government's revenue in surplus, despite strong increases in expenditure, until 2007. The Spanish government supported the critical development by relaxing supervision of the financial sector and thereby allowing the banks to violate International Accounting Standards Board standards.. The banks in Spain were able to hide losses and earnings volatility, mislead regulators, analysts, and investors, and thereby finance the Spanish real estate bubble. The results of the crisis were devastating for Spain, including a strong economic downturn, a severe increase in unemployment, and bankruptcies of major companies.Even though some fundamental problems in the Spanish economy were already evident far ahead of the crisis, Spain continued the path of unsustainable property led growth when the ruling party changed in 2004. In these early times Spain had already a huge trade deficit, a loss of competitiveness against its main trading partners, an above-average inflation rate, house price increases, and a growing family indebtedness. During the third quarter of 2008 the national GDP contracted for the first time in 15 years, and, in February 2009, Spain (and other European economies) officially entered recession. The economy contracted 3.7% in 2009 and again in 2010 by 0.1%. It grew by 0.7% in 2011. By the 1st quarter of 2012, Spain was officially in recession once again. The Spanish government forecast a 1.7% drop for 2012.The provision of up to €100 billion of rescue loans from eurozone funds was agreed by eurozone finance ministers on 9 June 2012. As of October 2012, the so-called Troika (European Commission, ECB and IMF) is in negotiations with Spain to establish an economic recovery program required for providing additional financial loans from ESM. In addition to applying for a €100 billion bank recapitalization package in June 2012, Spain negotiated financial support from a \"Precautionary Conditioned Credit Line\" (PCCL) package. If Spain applies and receives a PCCL package, irrespectively to what extent it subsequently decides to draw on this established credit line, this would at the same time immediately qualify the country to receive \"free\" additional financial support from ECB, in the form of some unlimited yield-lowering bond purchases.The turning point for the Spanish sovereign debt crisis occurred on 911, when ECB President Mario Draghi said that the ECB was \"ready to do whatever it takes to preserve the euro\". Announced on 6 September 2012, the ECB's Outright Monetary Transactions (OMT) program of unlimited purchases of short-term sovereign debt put the ECB's balance sheet behind the pledge. Speculative runs against Spanish sovereign debt were discouraged and 10-year bond yields stayed below the 6% level, approaching the 5% level by the end of 2012.".
- 2008–15_Spanish_financial_crisis wikiPageExternalLink policy-alternatives-for-a-return-to-full-employment-in-spain.
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- 2008–15_Spanish_financial_crisis wikiPageWikiLink 2000s_energy_crisis.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Abanca.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Arab_Spring.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Artur_Mas_i_Gavarró.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Bad_bank.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Balance_of_trade.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Banco_de_Valencia.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Bank_of_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Bankia.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Barclays.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Bargaining_power.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Basis_point.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Basque_Country_(autonomous_community).
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Castellón–Costa_Azahar_Airport.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Catalan_independence.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Catalan_parliamentary_election,_2015.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Catalan_self-determination_referendum,_2014.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Catalonia.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink CatalunyaCaixa.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:2000s_economic_history.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:2000s_in_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:2008_in_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:2009_in_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:2010_in_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:2010s_economic_history.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:2010s_in_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:2011_in_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:2012_in_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:2013_in_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:Economic_history_of_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:Eurozone_crisis.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:Great_Recession_in_Europe.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Category:Stock_market_crashes.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Center_for_Economic_and_Policy_Research.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Ciudad_Real_Central_Airport.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Competitiveness.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Constitutional_Court_of_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Credit_default_swap.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Credit_rating.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Credit_rating_agency.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink DBRS.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Deed_in_lieu_of_foreclosure.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Deflation.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Deutsche_Bank.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Disposable_and_discretionary_income.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Economic_bubble.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Economy_of_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink El_País.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Eurogroup.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink European_Central_Bank.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink European_Commission.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink European_Stability_Mechanism.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink European_debt_crisis.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Eurostat.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Extremadura.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Financial_crisis_of_2007–08.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Fitch_Ratings.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Floating_interest_rate.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Fondo_de_Reestructuración_Ordenada_Bancaria.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Fossil_fuel.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Full_employment.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Ghost_town.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Golden_parachute.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Government_of_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Great_Depression.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink ING_Group.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Interbank_lending_market.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Internal_devaluation.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink International_Accounting_Standards_Board.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink International_Monetary_Fund.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Italy.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink José_Luis_Rodríguez_Zapatero.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink José_Manuel_Barroso.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Landesbank.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Liquidity_crisis.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Loan_guarantee.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Lost_Generation.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Marginal_employment.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Mariano_Rajoy.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Mario_Draghi.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Moodys_Investors_Service.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Mortgage_loan.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Olli_Rehn.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Organisation_for_Economic_Co-operation_and_Development.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Outright_Monetary_Transactions.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Prime_Minister_of_Spain.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Purchasing_power_parity.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Real_estate_appraisal.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Real_estate_bubble.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Recession.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink SAREB.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Santander_Group.
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Savings_bank_(Spain).
- 2008–15_Spanish_financial_crisis wikiPageWikiLink Spanish_Constitution_of_1978.