by:jasmin

Today I'm going to talk to you about Spain's beauty and flaws. I will start my presentation with essential facts then I'll talk about one of Spain's problem and its multiple
causes and effects. Then I'll conclude with my recommended solutions.

DICTIONARY

• Recession- A recession is when a country experiences two or more quarters of contraction in their economy.
• Credit Bubble- When consumers build up so much consumer credit that they are unable to repay, a situation which can cause damage in a country's financial system.
• Credit Crunch- An economic condition in which investment capital is difficult to obtain. Banks and investors become cautious of lending funds to corporations, which drives up the price of debt products.

DICTIONARY

• Estate- All of the valuable things an individual owns, such as real estate, art collections, collectibles, antiques, jewelry, investments and life
• Economic Freedom- It’s the freedom to choose how to produce, sell, and use your own resources, while respecting others’ rights to do the same.
• Fiscal Freedom- The degree of freedom that a person has from the tax burden placed on that individual by the government.

DICTIONARY

• Monetary Freedom- The actions of a central bank, currency board or other regulatory committee that determine the size and rate of growth of the money supply, which in turn affects interest rates. Monetary policy is maintained through actions such as increasing the interest rate, or changing the amount of money banks need to keep in the vault (bank reserves).

essential facts

Government
The government of Spain is parliamentary monarchy. A parliamentary monarchy is a system of government where the executive branch is headed by a strong monarch.

Economy
Spain’s economic freedom score is 67.6, making its economy the 49th freest in the 2015 Index. Its score has increased by 0.4 point since last year, reflecting improvements in six of the 10 economic freedoms, driven by investment freedom, monetary freedom, and the management of government spending, that outweigh declines in freedom from corruption and fiscal freedom. Spain is ranked 21st out of 43 countries in the Europe region, and its overall score is above the world average.

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Religion
Roman Catholicism is the most popular religion in Spain. Of the population 80% to 94% identify themselves as Catholics, whereas around 6% to 13% identify with other religions or none at all. Many Spaniards identify themselves as Catholics just because they were baptized, even though they may not be very religious.

Essential images

Flag
The current Spanish flag was adopted on December 19, 1981. On each side of Spain's coat of arms is the Pillars of Hercules, which historically represent the Strait of Gibraltar. Each column is covered by a ribbon about midway across, stating the Latin motto "Plus Ultra," meaning "further beyond." In between the columns is a shield consisting of six parts. The top left represents the Kingdom of Castile, the top right represents the Kingdom of Leon, the bottom left represents the Crown of Aragon and the bottom right represents the Kingdom of Navarre.

Flag
In the middle of these four images is a circle with three fleurs de lis, which represent the Anjou section of the House of Bourbon. The Kingdom of Granada is represented at the bottom of the shield. A crown, representing the Crown of Spain, tops off the entire coat of arms.

Map
The kingdom of Spain is a member state of the European Union and stretches across 195,364 sq miles of area, and is known for its rich culture, lilting language, and breathtaking locales, Spain is a popular tourist destination with travelers from across the world.

Currency
Spain’s currency history prior to the euro consisted of the Spanish Real, the Spanish Escudo, and the Spanish Peseta.

Currency
Spain's currency or the currency used in Spain is the Euro as it is located in southern portion of Europe. Being a part of the European Union and the Euro zone, Spain adopted the common European Currency Euro(symbol: €) in the Year 2002. The Euro used in Spain and many of the countries of the European Union is worth 1.3491 U.S dollars. Notes with denominations of five, ten, twenty, hundred, two hundred and five hundred Euros are available in the market

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The Great Recession
The Great Recession is a decline in a country's GDP in two successive quarters. Combined with inflation.

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Cause And Effect
A big drop in consumer spending ended in a loss of jobs, decrease in personal income and decline in business profits. This is usually the result of an economic shock, such as a bubble bursting. An economic bubble happens when products, such as homes, become worth more than their actual value. When the bubble bursts, the prices of this products fall.This is usually connected with less business investing, because business profits decline. The slowdown in business investing results in more bankruptcies, both personal and business, and higher unemployment rates because too many people are chasing too few jobs.

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Cause And Effect
Another cause of the Great Recession was the credit bubble of 2001-2007 and the resulting was the global credit crunch (2007-08). This is why bad debts are having a huge effect on Spain's economy.

Cause And Effect
This is another cause and effect of the Great Recession. Banks limited their lending to businesses and households. The slowdown in lending caused prices in these markets to drop, and this meant that those that have borrowed too much to speculate on rising prices had to sell their estate in order to repay their loans. House prices dropped and the bubble burst. As a result, banks panicked and cut lending even further.

Soultions

• Spain should try to attract jobs from other countries. For example at my moms work people are working in India, but are getting payed from a U.S.A company.
• To avoid this in the future Spain should only give loans to the people that can pay them off, so there won't be so much debt. The people in Spain should also know their limits and only take loans that they know their going to pay off.
• Banks should have regulations to not give loans to people who cannot afford to pay them off.

Spain is a beautiful area, and with work it will be a great place to be or to live, so I hope you enjoyed this presentation and learned something new about Spain.

Temple of Debod, Madrid
The ancient Temple of Debod stood in Egypt’s Nile Valley until the building of the Aswan Dam in the 1960s, when the Egyptian government gave it to Spain in gratitude for that country’s help in saving a larger temple. It now stands in a Madrid park, along with a small museum.

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Spanish Bullfighting
A matador stands with cape at the ready in a bullfighting ring in Spain. The ancient sport draws crowds across the country, and bullfighters attain celebrity status.

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Costa Brava
Calella de Palafrugell is one of several fishing villages turned resort on Catalonia’s Costa Brava, which means “rugged coast.” Many fishing towns became resorts after Generalissimo Francisco Franco began encouraging tourism in the 1950s.

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REFERENCES

• http://www.factmonster.com/country/spain.html
• http://www.mapsofworld.com/spain/
• http://www.positivemoney.org/issues/recessions-crisis/
• http://econ.economicshelp.org/2008/01/what-went-wrong-with-us-economy.html
• http://www.economicshelp.org/blog/7501/economics/the-great-recession/

HOPE YOU ENJOYED