Explain how Spain's economy became weak over time. Use details to support your answer.

History

1 answer:

kherson [118]3 years ago

6 0

Answer:

The main cause of Spain's crisis was the housing bubble and the accompanying unsustainably high GDP growth rate. The ballooning tax revenues from the booming property investment and construction sectors kept the Spanish government's revenue in surplus, despite strong increases in expenditure, until 2007.

The inflation or increase of taxes, spain exporting goods to other countries which made spain's enemies rich, and the dutch revolt weakened spain.

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