How Spain Avoided the Global Populist Backlash
Spain has experienced a significant economic turnaround since the pandemic, contrasting with the struggles of other major European economies. The country's center-left government has implemented progressive policies that have led to job creation and reduced inequality. However, Spain now faces a housing crisis that could threaten its economic success.
- ▪Spain accounted for one out of every three jobs created in the EU over the past three years.
- ▪Disposable income in Spain has risen significantly faster than in France and Germany.
- ▪The Spanish Socialist Workers' Party has maintained power for eight years amid a rise in right-wing populism across Europe.
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IdeasHow Spain Avoided the Global Populist BacklashThe country’s center-left has stayed in power by engineering an economic boom. But the boom has created problems of its own.By Rogé KarmaBen RobertsJune 1, 2026, 7 AM ET ShareSave As recently as five years ago, Spain was no one’s idea of an economic success story. Southern European countries have long been notorious for lagging behind their neighbors to the north. Portugal, Italy, Greece, and Spain were referred to by the intentionally unflattering nickname “PIGS” after they had to be bailed out following the 2008 financial crisis.
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