Spain has gotten farther away from the rest of Europe. Not only because of high unemployment, but on account of the per capita GDP. The country lags behind at least half of its European neighbors.
Further, this per capita wealth (adjusted in terms of purchasing power) reveals that our pockets have less purchasing power than our European partners. Nevertheless, we live within the same economic sphere and envision common directions and goals.
Today we are paying a lot for the Zapatero government to ignore advice from Brussels and other recommendations that we enact prompt and serious reforms. And now that monetary policy has stiffened for everyone, including those who make their loans and those that don't, our recovery is called into question.
Edited in English by Brandon Dyches and Jose L. De Haro (joseluisdeharo@eleconomista.es)
