It was the creation of the Euro that doomed the Spaniards.
They had an artificial advantage for their gunmakers until then.
When they lost that, Basque makers had an immediate 40% price hike, and that ended cheap Spanish hand made doubles.
Bingo. The stupid euro and the EU f’d it all up.
“Spain is a significant recipient of EU funds, expecting to receive around €140 billion from EU Recovery and Resilience Facility (RRF) funds by 2026 to aid its post-pandemic recovery, and is also a large beneficiary of cohesion funds, receiving €35.5 billion for 2021-2027. “
200 Billion Euros or AyA.
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What are you going to pick?
