Spain’s role in the Eurozone economic crisis is unique, even though discussion of the problem tends not to differentiate Spain’s issues from those of Greece, Ireland, and Portugal, argues Sebastián Royo, associate dean of the College of Arts and Sciences and director of the Madrid campus, in an article published in the journal Governance.
In 2007, before the crisis, Spain had one of the lowest rates of public debt in the western world at 36.3 per cent of GDP, Royo told a writer for the Governance blog.
“So the notion that the country was irresponsible and that public debt had got out of control is simply not true,” said Royo.
Royo analyzes the impact of the global crisis on the Spanish financial system between 2008 and 2010. and the performance of the largest Spanish financial institutions in the article “How Did the Spanish Financial System Survive the First Stage of the Global Crisis?”
Governance: An International Journal of Policy, Administration and Institutions, published in association with the International Political Science Association's Research Committee on the Structure & Organization of Government, provides a forum for the theoretical and practical discussion of executive politics, public policy, administration, and the organization of the state.
Its co-editors are Alasdair Roberts, the Jerome L. Rappaport Professor of Law and Public Policy at Suffolk University Law School, and Robert H. Cox .