Spain's powerful world empire of the 16th and 17th centuries
ultimately yielded command of the seas to England. Subsequent failure to
embrace the mercantile and industrial revolutions caused the country to fall
behind Britain, France, and Germany in economic and political power. Spain
remained neutral in World Wars I and II but suffered through a devastating
civil war (1936-39). A peaceful transition to democracy following the death of
dictator Francisco FRANCO in 1975, and rapid economic modernization (Spain
joined the EU in 1986) gave Spain a dynamic and rapidly growing economy and
made it a global champion of freedom and human rights. More recently the
government has had to focus on measures to reverse a severe economic recession
that began in mid-2008. Austerity measures implemented to reduce a large budget
deficit and reassure foreign investors have led to one of the highest
unemployment rates in Europe.
(Source: The World Factbook 2009.
Washington, DC: Central Intelligence Agency, 2009)
For more information about Spain:
https://www.cia.gov/library/publications/the-world-factbook/index.html
