It has been accepted that the Spanish economy up to the present economic crisis was not sustainable.It just could not go on and on.The construction industry in Spain is in tatters and the government has recognised that it was in the long term bad for the economy and also bad for the environment.
Spain is Europe’s fifth largest economy and the new philosophy is entitled”Strategy for Sustainable Economic Growth “It suggests improving education generally,getting companies to have a more economic focus and a streamlining of the bureaucratic processes.There will also be tax breaks for companies that innovate and the promotion of investment in renewable energy sectors.The hope that this change of policy will change the economy over the next 10 years.The government has agreed a 20 billion euro investment fund which the banks and the state will fund.
In the construction industry there are still a million homes unsold and the Spanish GDP is still showing contraction.It has been agreed that in the run up to the economic crisis Spain had an unsustainable economy.
