Europe recovers, do by what Spain does not? 16 September 2009 in the midst of the crisis the Spanish Government has tried to avoid the sharp fall of the property market.At the moment, what it seemed to be a help, it ended damaging not only to the Spanish real estate market that not culminated with their adjustment process, but will also be transformed into one of the explanatory factors for the delay in the recovery of the Spanish economy. In Europe, most economies, with the exception of Spain, are prepared for economic recovery that will experience in 2010. The Spanish economy must wait a little longer to perceive the beneficial effects of the economic recovery, time that can be tapped by the Government of Jose Luis Rodriguez Zapatero to review mistakes in economic policy and a plan of far-reaching reforms to restore economic strength. The European Commission (EC) improved yesterday in a sensitive way its forecasts of growth for the euro zone and the European Union, ahead of their recovery in the first quarter of 2010 to the third quarter of this year. The encouraging signs in major economies such as France and Germany, generated this change in expectations of recovery. For Spain, however, the EC forecast worsens half point until a fall in GDP of 3.7 per cent in 2009. Why if optimism reigns in Europe as a whole, the context for Spain does so dark? The European Commissioner for Economic Affairs, Joaquin Almunia, rightly pointed to the multiple imbalances of the Spanish economy to justify that Spain will experience a more prolonged recession than the rest of European countries: the increased indebtedness of households, the housing crisis, the external balance and the high unemployment rate.
The situation of the Spanish property market is perceived at a glance. In the newspaper Cinco Dias, R.R. de Acuna & Asociados that vision was reflected in its Statistical Yearbook of the real estate market anticipated that the recovery of the sector with all that it implies, will not occur until 2013 (or even the possibility that need to wait until 2016 to!).