La Gran Recesión en Irlanda y España. Un análisis comparativo

Resumen

In this article I compare the UE's financial assistance to Ireland and Spain. Great Recession's previous situation for both countries was pretty similar: high growth based on a construction boost supported by the financial sector which relaxed the loan standards and financed by external markets; and a public sector with revenues highly depending on the construction sector. But similarities disappear when we analyse how they confronted the crisis: Ireland faced the construction blowout and international crisis from their beginning in 2008; Spain delayed its reaction one year and a half, misspending �140.000 million in pseudkeynesian policies. Even though both countries have recovered economic growth, their perspectives are very different. Two lessons can be taken out from this study: first, the most important thing in economic policy is to tackle the problems as soon as possible; second, caution employing public expenditure is a wise decision.