Latest update: 19/12/2012 

- auto industry - economy - PSA Peugeot Citroën - Renault - Spain


Has Spain turned a corner in its economic crisis?

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The Spanish economy has plunged spectacularly in recent years, but financial analysts are now daring to believe the worst may be over. High unemployment has driven down wages and foreign companies are moving in, among them French car manufacturers Renault and PSA Citroën. Both have promised to develop production in Spain, even though PSA is making 8,000 people redundant in France. The end may be in sight for Spain - but at what cost to its neighbours?

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