Spain's Economy
Joining Europe
How Spain's entry into the European Community in 1986 brought funds, investment and modernisation, and how it adopted the euro in 1999.
Spain joined the European Community in 1986.
Benefits
- Access to the single market.
- Foreign investment, especially in car factories.
- EU cohesion funds for motorways and high-speed rail.
High-speed rail
Spain built one of the world’s longest high-speed rail networks, the AVE, starting with Madrid-Seville in 1992.
1992
The Barcelona Olympics and Seville Expo showcased modern Spain.
Euro
Spain adopted the euro in 1999, lowering interest rates.
Convergence
Incomes moved closer to the EU average.
The AVE train
A traveller goes from Madrid to Barcelona in about two and a half hours on the AVE.
Thinking EU entry only meant trade
It brought funds and investment too.
Key takeaways
- Spain joined the EC in 1986.
- EU funds built motorways and rail.
- The AVE is one of the longest high-speed networks.
- Spain adopted the euro in 1999.
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