Decades of heavy infrastructure subsidies (complements of the European Union) helped transform Spain from its agrarian past into a transport and telecoms leader. Its economy reeled from the double dip recession during the years following the global financial crisis. Pundits and mainstream media dubbed Portugal, Ireland, Greece, and Spain as PIGS, pointing fingers at their governments defaults. But these economies displayed resilience recovering faster than analyst expectations. The recent announcement by telecom giant Telefonica that Spain would start transitioning its mobile network to 5G, before other EU leaders including Germany, France, and the nordics was further testament to the country’s ambitions and positioning as a European force.
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