Document Type

Working Paper

Date of this Version



Howard Kunreuther & Erwann Michel-Kerjan


The European economy has been struggling with their debt level since the 2008 financial crisis. Unlike United States whose centralized government play a key role in reverting economic downturns, there is no quantitative easing or definitive centralized authorities in the European Union who can single handily stop the downward economic spiral. To analyze how detrimental the economic conditions are in Europe, personal interviews, data collection and primary research have been conducted to take a deeper dive into how the European economy operates. In addition, the analysis will cover in more depth about how Spain – known for being one of the most fragile economic powerhouses in Europe – has recovered in a much quicker pace, and how its economic figures don’t explain the entire story. Debt levels, corporate indices, macroeconomics and most importantly, culture play a vital role in how Spain is coming back from its heavy economic pressure.


Spain, economy

Included in

Business Commons



Date Posted: 10 June 2015


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