HAS Spanish Prime Minister Mariano Rajoy pulled off a small miracle by nursing the country back to economic health? The Spanish economy is recovering and even the ratings agencies, which have been so cruel to Spain with their economic downgrades in the past, now admit that the country is on the mend. Just a year ago many thought that Spain would need a bailout from the European Union and there were fears that the economic woes in Spain could prompt the end of the euro. But 12 months later and the economic situation looks much brighter. Unemployment is still very high (4.5 million are without a job) but the economy is growing thanks to Spanish exports. Foreign investors have also returned, even Bill Gates has invested some of his millions in a leading Spanish company. So is Rajoy responsible? Well, ultimately yes but he should also thank the Spanish business community which has moved into top gear and is helping Spain recover. Thankfully, the end of the economic doom and gloom could be in sight.
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