[pesto]

Originally Posted by JDRCRASH

You're not serious, are you? Spain is the 14th largest economy in the world even if you include California.

http://www.nationsonline.org/oneworld/first_world.htm

Seriously, this probably ranks as one of your most inaccurate comments thus far on this forum.



Wrong, it's not infrastructure.

http://gulzar05.blogspot.com/2011/12...eign-debt.html
http://english.ruvr.ru/2012/01/12/63720328.html

Perfectly serious. Size of the economy is not relevant; China and India are bigger but no one would call them developed or even close.

Spain had an artificial boom sponsored by govt. and private debt, which gave the illusion of development and has left them bankrupt and with Greece-like unemployment. Institutionally it is still very much lagging Northern Europe in educational, social, business, finance, agricultural, employment, administrative, regulatory compliance and other aspects of developed countries. Examples are numerous, but suffice it so say that Spain is still exempted from many EU rules on employment rules, tax compliance, agricultural production and wages, etc. It just doesn't have the institutions to comply. Spanish corruption in city and local govt. is famous in the EU and easily checked out on the internet.

It is not a basketcase, but it is not a developed country either. I wouldn't have thought anyone would argue this after the last 5 years.