# Economic issues in Spain



## BostonsBigMama (Oct 25, 2011)

Thank you to all who provided links and comments on the Sticky Notes on the Economy and Employement in Spain.

We in the U.S. have indeed heard about how troubling times are in Spain. However, the news always mentions that Spain is making wonderful headway and things are looking up. Especially when compared to Portugal, Ireland and Greece.

I wonder if any of this is accurate. From the articles I have read on this site it appears that Spain is now in a depression, one the U.S. saw in the 1930-40's.

Here is my question, despite all the data I have read, my husbands company is considering relocating us from the US to Valencia Spain (we can also do Montpellier or Toulouse France but do not speak French). We will be employeed and we have 2 school age chidlren who will attend private schools. We will have a 1 year contract able to extend to 2 years. 

Is it a crazy notion to even consider Spain at this time in history? Positives are: steady income and we are all moderate Spanish speakers. We love the Spanish culture and love of life. Negatives: Current economic times in Spain

I would love to hear some candid comments! 

Thank you so much.


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## Sirtravelot (Jul 20, 2011)

Quite honestly, if you have a steady income, I wouldn't worry about it especially as you can also return home after a year or two.

As far as Spain recovering...no.

Things could get worse before they get better. Which does not mean you can't have a good time in Spain under your circumstances.


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## Pesky Wesky (May 10, 2009)

A one year contract in Spain still sounds like an opportunity to me, even though the news here is not the news that you seem to be hearing over there ie no heaway and no looking up.
Despite all the problems Spain is a great country to live in and a place where you can learn a lot. A lot of the country's problems stem from unemployment, and if you've got that covered... Other problems are more long term and shouldn't effect you too much over a year's stay.


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## Sonrisa (Sep 2, 2010)

During the course of the lAst year or so, I have heard of many expats being offered a job transfer to Spain This is surprising considering the level of unemployment in Spain. 
I have to admit that it makes me slightly jelous, but also curious. May I ask the OP what field does her husband work in?

anc yes, go for it. Spain is a great place to live when you have a job.


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## BostonsBigMama (Oct 25, 2011)

Sonrisa said:


> During the course of the lAst year or so, I have heard of many expats being offered a job transfer to Spain This is surprising considering the level of unemployment in Spain.
> I have to admit that it makes me slightly jelous, but also curious. May I ask the OP what field does her husband work in?
> 
> anc yes, go for it. Spain is a great place to live when you have a job.


My husband works for a Software development company. He is very specialized, the products that he works with are parts of products he devolped while he worked in Research and Development. His company is global. The thought is to have a senior level person that could overlap the office in India and the office in the U.S. (very abbreviated nutshell). They have a European division. France Germany, Spain. The Spain office is in Madrid...but he can work remotely most of the time from home - we thought Valencia would be the best choice for us..



The Madrid office is staffed by Spanish people..not many expats..


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## Sonrisa (Sep 2, 2010)

Thank you... 
Valencia is gorgeous and only a short train ride from madrid if needed. You might find very confusing the local dialect, though, but after a while youll get used to it.


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## Lydnem (Jun 3, 2012)

Sonrisa said:


> Thank you...
> Valencia is gorgeous and only a short train ride from madrid if needed. You might find very confusing the local dialect, though, but after a while youll get used to it.


It is the age of the internet. There are many opportunities where you can work from home using Skype and email. It doesnt matter where you are int he world really, just have to take advantage of technology. I am looking for real estate agents to sell repossessed property, and they have to be based iin Spain. I will see how many people actually want to work!


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## fergie (Oct 4, 2010)

Sky news UK, has done good coverage of the present unemployment situation(larger than the UK, which we who live here already know), and Bank situation today, including interview with a Spanish gentleman who is suffering due to present closure of factories and unemployment. 
6th June 2012,. which is being repeated approx. once every hour, for those who might like to look.


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## dianacastillo (Jul 4, 2011)

:focus:


Lydnem said:


> It is the age of the internet. There are many opportunities where you can work from home using Skype and email. It doesnt matter where you are int he world really, just have to take advantage of technology. I am looking for real estate agents to sell repossessed property, and they have to be based iin Spain. I will see how many people actually want to work!


i have a friend who would be good at this Job, how can i get more details?


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## mrypg9 (Apr 26, 2008)

Lydnem said:


> It is the age of the internet. There are many opportunities where you can work from home using Skype and email. It doesnt matter where you are int he world really, just have to take advantage of technology. I am looking for real estate agents to sell repossessed property, and they have to be based iin Spain.* I will see how many people actually want to work!*




You should be lucky then as six million are looking for jobs! I'm sure they are actively seeking work, not just enjoying their forced leisure.

But there are very many agents including banks selling repossessed property here in Spain already...


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## xabiaxica (Jun 23, 2009)

mrypg9 said:


> [/B]
> 
> You should be lucky then as six million are looking for jobs! I'm sure they are actively seeking work, not just enjoying their forced leisure.
> 
> But there are very many agents including banks selling repossessed property here in Spain already...


& probably commission only, too


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## Sonrisa (Sep 2, 2010)

Well I have come across a number of peple (non spanish) who have been offered a jop in Spain recently, this is mostly, as BOstonpapa, in the technology , IT, programing, telecommunicatios engineering fields.
There seems to be a shortage of these in Spain, and Spanish universities are failing to attract and prepare these kind of engineers, which is why companies in Spain have to look abroad to find professionals. 

recently i read an article in El pais that corraborated my observations. Will try to find it.

http://economia.elpais.com/economia/2012/06/15/actualidad/1339777853_083430.html. FOUND IT!


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## mrypg9 (Apr 26, 2008)

Sonrisa said:


> Well I have come across a number of peple (non spanish) who have been offered a jop in Spain recently, this is mostly, as BOstonpapa, in the technology , IT, programing, telecommunicatios engineering fields.
> There seems to be a shortage of these in Spain, and Spanish universities are failing to attract and prepare these kind of engineers, which is why companies in Spain have to look abroad to find professionals.
> 
> recently i read an article in El pais that corraborated my observations. Will try to find it.
> ...


Same in the UK. My son uses sub-contractors in India as there is such a shortage of qualified IT professionals in his particular speciality, disaster recovery. 

IT is very badly taught in the UK and in my experience consists of little more than being shown how to use Microsoft Office functions...It's chicken and egg....the teachers themselves aren't qualified to do much more.

We need a programme of education in teacher training institutions so that we can provide qualified people to teach others. Asian countries have been in the forefront of IT education for a long time and that's one of the reasons they are overtaking us.

The decline of the West....


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## Alcalaina (Aug 6, 2010)

mrypg9 said:


> [/B]
> 
> But there are very many agents including banks selling repossessed property here in Spain already...


Or not, as the case may be! The banks are so desperate to shift their repos they are still trying to persuade people to take out 100% mortgages - people who could lose their jobs at any moment.


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## 90199 (Mar 21, 2010)

Talking about banks, one is offering 4% for savers


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## mrypg9 (Apr 26, 2008)

Alcalaina said:


> Or not, as the case may be! The banks are so desperate to shift their repos they are still trying to persuade people to take out 100% mortgages - people who could lose their jobs at any moment.


Yesterday driving down to Gibraltar for Quorn and gin we saw billboards advertising properties with* 110%* mortgages.
When will people and financial institutions learn??
Now that is a practice that the Government could easily stamp out by legislation.


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## 90199 (Mar 21, 2010)

Many years ago, I bought a new house with a 100% mortgage, worked well for me.


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## Alcalaina (Aug 6, 2010)

Hepa said:


> Many years ago, I bought a new house with a 100% mortgage, worked well for me.


But things were different then! Yours was hardly "sub-prime", I bet, or taken on at a time when house prices were falling dramatically.

What bank is offering 4% btw?


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## MaidenScotland (Jun 6, 2009)

When I was looking to buy last year I had the option of renting a repossession with the option to buy at the value of my date of entry less the rent I had paid.. the rent was just over 200 euros a month for a 4 bedroom apartment.

I was going to do this but then saw my wee house in Novelda and fell in love with it.


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## 90199 (Mar 21, 2010)

Caixa


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## Alcalaina (Aug 6, 2010)

Hepa said:


> Caixa


Found it eventually - I think you mean Caixa Catalunya, which is one of the flaky ones, and that's over 3 years. Depósito Bonificado 4% Caixa Catalunya - Bankimia.com. La Caixa, which I'm with, is only offering around 2%. Hardly worth tying up my rapidly dwindling stash of euros for a year. I think I´ll follow the advice in the blue voting box on the right of this page and buy a load of wine.


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## 90199 (Mar 21, 2010)

No, La Caixa


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## Alcalaina (Aug 6, 2010)

Hepa said:


> No, La Caixa


Oh. Could you send me a link then?


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## 90199 (Mar 21, 2010)

I don't have a link.

It was being offered earlier this week in the bank 4% for 3 months. They tried to get me to invest, however I declined, I get better returns elsewhere, without having to transfer more Sterling into a risky Euro.


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## gus-lopez (Jan 4, 2010)

The banks 'only'need 62 billion to balance the books! 
Sabadell,BBVA & Caixabank don't need anything. :clap2:


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