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Economy of Spain
Spain inherited a fascist economy from Francisco Franco and firing was complex and expensive. Interventionism was widespread: basic products like bread and sugar had their prices fixed by the government. Large public firms controlled all sectors seen as strategic. Monopoly was common (e.g.: Telephone, tobacco, television, petrol, etc.). Shops had fixed opening and closing times and were not free to open all day, all week. Banking was controlled. Both passive and active interest rates were fixed by the government. All these rigidities and more lead to 10 years of industrial crisis (1975-1985), reduced convergence with Europe and expressed the need to modernize the economy and join the EC. Some moves away from these restrictions and controls, and large infrastructure projects in the 1960s resulted in strong economic growth in the so called "Spanish Miracle", but still left Spain lagging most of Western Europe, but ahead of the Warsaw Pact.
Spain's accession to the......

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Approximate Word Count: 624
Approximate Pages: 3 (250 words per double-spaced page)

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