A: Spain lies on the geographical coordinates of 40° 0' 0" N, 4° 0' 0" W.
Latitude and Longitude of Spain in other units:
|Latitude and Longitude to decimals||40.0||-4.0|
|Latitude and Longitude to degrees minutes seconds||40° 0' 0" N||4° 0' 0" W|
|Latitude/Longitude to UTM Reference|
|UTM Northing:4428236.0646159705 Easting:414639.53815639653 Zone:30T|
More detail about Spain
Spain Adhering to Government Changes
There have been some major changes in the economy of Spain in the last 25 years. They started when they made the accession into the European community, later to be called the European Union. They opened themselves up to trade and investment while making improvements to their economic legislation, infrastructure and its industrial base.
In between 1986 and 2007, there was a huge drop in unemployment rates. It went from a high 23% to a relatively low 8%. When they adopted the Euro in 2002, their interest rates were reduced. As a result, there was a housing boom which caused even more growth. The end of the housing boom came in 2007 and the effects of the global financial crisis were felt in the first half of 2008. The housing and construction sectors were hit and in 2010, the unemployment rates reached 20%.
The strength in the currency brought Spain to make more investments in the United States. They bought into the banking, insurance, solar power, road construction, food, and biofuel sectors as well as others. Although they certainly had their losses from this when the global financial crisis his, they are starting to see growth once again. This growth started in the first parts of 2010 which is said to be caused by the increase of public demand.
At the moment, Spain is suffering from a deficit. There are major changes being made in the government that are strictly regulated. These changes concern the salaries of the employees, the pension funds and public works. These saved funds will be put towards reducing the deficit. They expect to see it reduced to below 3% of the GDP by 2013.
Through these changes as well as others pertaining to loans given to the construction industry, the government expects to see positive results in the next two or three years. They also hope to see another reduction in the unemployment rates as the reforms start to take place.