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Spain Struggles to Adjust to Common Market, Portugal Leads
Spain, with 38.9 million people and a larger economy, has faced tougher integration into the European Economic Community than Portugal. Imports rose 30 percent in early 1980s while exports grew 5 percent. Spain posted a $1.16 billion trade deficit with the Market. Portugal enjoys credits and a $1 billion aid package to offset tariffs, while Spain seeks lower social security costs and eased job protections amid rising foreign investment. Local officials cite VAT as a revenue tool and note Spanish dairy cuts to reduce surpluses.
MENTIONED IN THIS ARTICLE
Madrid
Spain
Portugal
Alfredo Molina
Catalonia
Jose Maria Cuevas
Spanish Businessmen’s Confederation Ceoe
Pedro Salbes
Ministry of Economy
Council of Ministers
U.S
Denmark
Netherlands
France
Anibal Cavaco Silva
Europe
Felipe Gonzalez
Gonzalez
West Germany
South Korea