Economic Crisis in Spain and Greece, Illustrated
Posted by Bert Maes on February 11, 2010
I can’t help but notice that the downsizing of the manufacturing industry in Greece & Spain and the poor performances in manufacturing education are undoubtedly part of the picture in the current economic and financial crisis in those countries.
Many governments around the world are facing higher national deficits and implied higher levels of national debt.
Spain, Portugal and Greece are three countries with large and sustained current account deficits. The enormous debt levels being created at the moment will haunt the country citizens for many years to come. (In Belgium, where I live, the macroeconomic indicators are in only marginally better shape than those of Greece and Spain!)
Any real improvement will depend on economic growth. All countries should somehow encourage rather than strangle economic growth over the next few years.
Things have to start with MANUFACTURING. Spain’s (and Greece’s) problem, Illustrated:
(Source: Paul Krugman)
And with manufacturing EDUCATION: a SWOT analysis for the Manufacturing Engineering sector in Greece
(source: IRMA Project)