Spain gains ground

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Spain’s recent economic struggles may be well known, but those paying attention see signs of recovery starting to emerge. And for those keeping an eye out for new investment opportunities, the country has definite potential.

Spain has been in the spotlight for all the wrong reasons recently. The housing market collapsed, the banking crisis deepened and austerity measures were introduced that many considered crippling. This led to rampant unemployment and frightened off many investors, wary not only of the country’s economic travails, but also the perceived weakness of its institutions, both public and private.

According to Spanish Prime Minister Mariano Rajoy, that’s all set to change: “The debate isn’t ‘Is Spain going to have a bailout?’ or ‘Does the euro have a future or not?’... the debate is ‘When is Spain going to recover and how strong will the recovery be?’” he said in a recent interview with Bloomberg.

“Right now, Spain is coming out of the recession,” he added, “and next year Spain will have major economic growth.”

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