Spain has suffered much worse than some of its neighbouring countries. They have suffered from a steep increase in housing prices and in unemployment. The boss from job website Trabajo En Santander said that visitors to his job site had increased month on month for the past year and business was very good for him due to the harsh recession in Spain.

The reason Spain is taking longer to recover than many other countries in Europe is due to that they rely on internal trade more and less on exports. Such countries as Germany are more reliant on exports, which helps their economy recover from recession much faster.

Another problem with the Spanish economy is the building industry which was largely powered by debt. With this being the case many new houses have been left unsold. This has just added to the problems to the Spanish economy.