Spain hits rock bottom – but the only way is up

Well, we’ve been waiting for this moment for a few years now, and at last the Spanish Government’s economy minister, Luis de Guindos, says it has arrived. Spain has hit the bottom. It’s a very bad place to be, said Sr de Guindos, but given the latest figures for the economy and, not least, for unemployment which has now fallen for six consecutive months, the country is at rock bottom. The positive side of this, of course, is that although it will be a long hard climb out of the trough of despair Spain has been in now for at least five years, and although the country may bounce along the bottom for a little while yet while it stabilizes, in the end, the only way is up.


  1. HI Janet

    You cannot wonder at the economy hitting rock bottom. What are the government thinking about taxing those people resident in Spain who have XXX assets and being in the country over 182 days in any one year. I would have thought the government would welcome “swallows” for 365 days per year!!!! The shops, cafes, restaurants, garages etc are all suffering as we all eat and shop whilst in spain. We own apt (18 apts in the block). We left in May not returning until end of October (normaly return early September) and there was only 1 person left in the apt block due to everyone returning to their home countries solely to ensure they get 183 days between Jan – Dec away from Spain as we do not want to pay any more taxes. Come on government think positive. Also, what about the law they bringing in re cafes/bars etc not being allowed plastic chairs and tables and neutral brollies, this again will see many owners/tenants/managers departing from Spain as they cannot afford to keep replacing these items (most are provided by the breweries/outlets etc i.e. Sprite/Coca Cola). The more I read this comment I feel Spain do not want us in their country.

  2. Spain has hit the bottom ? Hope he is correct but unfortunately politicians have a bad habit of ‘talking things up’, like Hollande and French unemployment. Time will tell for Spain I guess but I for one am getting sick and tired of political rhetoric that consistently falls flat.

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