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Eliseeva Victoria 10 “B” Teacher of Economics Rafalskaya Irina C RISIS IN S PAIN.

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Presentation on theme: "Eliseeva Victoria 10 “B” Teacher of Economics Rafalskaya Irina C RISIS IN S PAIN."— Presentation transcript:

1 Eliseeva Victoria 10 “B” Teacher of Economics Rafalskaya Irina C RISIS IN S PAIN

2 On summer 2012 the epicenter of the economic crisis moved to the fourth in size Eurozone economy – Spanish. To its rescue attended Brussels and heads of the leading states of EU. In dramatic events in Spain common problems of the European integration were reflected. The European Union should find answers to a large number of key financial, economic and political affairs. And it should specify recovery from the crisis "road map" taking into account the Spanish experience.

3 Crisis was expressed in decrease in a consumer demand, falling of production and volumes of foreign trade, spasmodic increase in the budgetary deficiency, substantial increase of all debt indicators, political instability, and in the social relation – mass protests and the prompt growth of the unemployment which level in the certain countries reached record point. Lines of present economic and socio-political situation in the euro zone which showed until recently enviable stability and steady forward growth are that. Crisis shocks conduct to weakening of EU as geopolitical actor. In recent months Spain moved to epicenter of crisis – the fourth by the sizes economy of the Euro zone and the fifth – among 27 EU Member States. The vibrating Spanish financial and economic and socio- political system generated the most difficult problems within the country and aggravated the conflicts of interests on space of united Europe. The destiny of the Euro zone and all integration project realized within the European Union in many respects depends on succession of events in Spain.

4 CountriesGDP increase, % Deficit (surplus), % GDP National Debt, % GDP Unemployment, % IV q. 2011 I q. 2012 IV q. 2011 г. I q. 2012 IV q. 2011 I q. 2012 IV q. 2011 I q. 2012 Euro zone-0,30,0-3,1-5,387,388,210,911,2 Italy-0,7-0,8-2,8-8,0120,1123,310,0- Spain-0,3 -12,3-5,668,572,123,824,7 Greece---5,6-9,9165,3132,321,7- Ireland0,7-1,1-5,0-9,9106,5108,514,814,7 Portugal-1,3-0,13,0-7,9107,8111,614,815,3 Table 1. Economic and social indicators of Euro zone members Source : Basic figures on the EU. Autumn 2012 edition. – http://ec.europa.eu/eurostat http://ec.europa.eu/eurostat

5 Table 2. Dynamic of macroeconomic indicators of Spain (governmental forecasts) Indicators20112012201320142015 GDP changes, %0,7-1,70,21,41,8 Export of goods and services, % 9,03,56,97,58,0 Import of goods and services, % -0,1-5,11,35,46,2 Employment, %-2,0-3,7-0,40,71,0 Unemployment, %21,624,324,223,422,3 Labor productivity, %2,82,00,60,70,8 Budget income, % GDP 35,136,336,936,6 Budget costs, % GDP43,641,639,938,837,7 Trade surplus, % GDP-6,1-2,20,21,02,0 National debt, % GDP68,579,882,381,580,8 Source: Programa de Estabilidad 2012-2015 y Programa Nacional de Reformas 2012. ConsejodeMinistros, 27 abril 2012. – http://www.lamoncloa.gov.es/

6 Nobody knows what it will be with Euro Zone and it’s currency Euro. The indicators of Spanish markets are falling down all the time. National debt is increasing. The population is not satisfied with economic measures which they need to undertake. Young people prefer to go to other countries in Europe to find work and live there, because they don’t see any changes in Spanish economy. But everybody hopes that Europe will survive and expand its’ borders, because on July 2013 Croatia will join European Union and will become it’s 28 th state.

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