Momentarily putting aside their concerns for Spain’s high unemployment rate and miserably slow economic recovery, fans reportedly poured into the streets of Madrid Sunday to celebrate their country’s historic 4-0 win over Italy in the Euro 2012 finals match.
Fans also took to their phones – setting a record for sports-related posts on Twitter, the company announced July 1.
But don’t expect that elation to last for long, Spain’s honorary consul to Atlanta, Ignacio Taboada, told GlobalAtlanta July 2.
Although the tournament provided a morale boost to the country’s nearly 50 million people, Europe now needs focus on its ongoing debt crisis, Mr. Taboada said.
Until policy makers in Europe decide on a concrete solution, Spain will continue to suffer from slow economic growth, largely stemming from its inability to acquire low interest rates, further placing the country behind other European economies like Germany, he continued.
“The euphoria of the Euro Cup is only temporary,” he said. “Until we can find a solution to Europe’s debt problems and find ways to invest and create jobs, we can’t really address Spain’s overall competiveness and productivity.”