Thirty years ago we suffered another major crisis in Spain in 1981 and 23-F. Then we suffered a negative rate of GDP of 0.2%, with unemployment 15% and that interest rates touched 19%. From that Spain and deep crisis that we reinforced with effort and many sacrifices in the modernization of the productive system and our belief in our destiny to unite Europe.
were difficult years. Years of industrial restructuring painful sacrifices in the field and loss of income and jobs at a cost of money that reached 19% while the social security system to water and public sector amounted to outrageous numbers of red ink.
was not easy to get out of this black hole of no were it not for the determination of the social partners, of successive governments and citizens to fight together to establish the pillars of a thriving modern Spain. Those years we now offer have not learned the lesson that we can overcome the current crisis strengthened to establish the robustness of the welfare and progress of the economy in a globalized world for the twenty-first century Spain. Farmers suffered doubly
that given the dire economic crisis that reduced crop weather conditions and farm incomes. The agricultural sector was not immune to that deep recession with a fall in production to which was added the aftermath left by the drought and winter frosts, which caused serious damage to citrus and vegetable crop early. Wrote bad weather a new black year for agriculture with summer drought which determined the yields of vineyard, olive and sunflower which caused the fall in production and a further decline in agricultural income. In 1981 he suffered a negative rate of final agricultural production of up to 43% in cereals, legumes 29%, 35% in oil, 20% drop in the production of wine, and 8% in citrus. No doubt a picture of adversity and difficult to overcome even with sacrifice and effort. That
crisis left a deep scar on the field, whose sacrifice was not recognized then, not now, and yet few sectors suffered as their integration in Europe being currency. For 30 years the field continue to demand the necessary support to ensure its future viability as they are doing in other countries like France.
Other indicators of the English economy, 1981 offered a flat encephalogram concern given the low rate of economic activity in the first half in which electricity consumption grew only 0.8%, significantly below the average increase of 1980 3.3%, the registration of cars suffered a decline of 10% and del20% in trucks. Industrial and consumer surveys were yielding negative in the backlog, and the level of production of total industry and staffing levels were getting lower in the construction sector.
This led to unemployment rates of 14% in June, with nearly two million unemployed in a country that had not yet paid labor revolution in the full incorporation of women, while the deficit on current account was significantly above the official forecasts, with almost 600,000 million pesetas and the annual inflation rate measured was 15%. With interest rates rising interbank borrowing costs reached a daily average of 19% which would certainly hair-raising anyone today. The increase in financial costs of the English company put more obstacles to overcome a crisis that demanded sacrifices given the tightening of financial markets.
difficulties that year was the prelude to a long period of reforms introduced by the government headed by Felipe Gonzalez to cope with an economy was in dire straits. Inflation stood at an annual rate of 16 percent, public spending had gotten out of hand and foreign exchange reserves were exhausted. Gonzalez then resorted to pragmatic policies along with a number of measures of vigorous downsizing that cost two general strikes but eventually straightened out the English economy. The closure of large enterprises unprofitable state helped to correct the imbalances and launched a program of industrial restructuring with many sacrifices. The reforms allowed the social security system achieve a better balance in their accounts and introduced a policy to use energy more efficiently while straightening economy sustained growth that generates employment and the period of greatest increase in income of the English and convergence with Europe.
Efforts to modernize and expand the economy were successful and culminated in the European integration process sacrifices in the modernization and convergence of Spain in Europe. Today the challenge is to place the English economy in terms respect to the world competitiveness in a globalized economy, with new challenges in modernizing agriculture and the production system, greater energy independence and use of new energies, in the rationalization of current spending and public bodies and the use of the capabilities of our young people in employment. No doubt we will succeed if we can believe in ourselves and in our capacity for effort.
we did 30 years ago and today the demand is that we must do the same or more determined then to tackle the new challenges of the future from a greater solidarity, unity and effort of all.
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