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It's located in Spain, a country not known for its vast wealth. Plus, it's in a special administrative region in Spain, the Basque Country. They enjoy subsidies

It's located in Spain, a country not known for its vast wealth. Plus, it's in a special administrative region in Spain, the Basque Country. They enjoy subsidies and favorable treatment from the regional government.

user-one1 2y ago
Basque country is one of the richest regions in Spain, which is already a highly developed country. Not sure what you are talking about.
- ladyanita22 2y ago
  I'm from Spain, so I'm quite sure of what I'm talking about. Spain might be a highly developed country, but its gdp per capita is not too high compared to the likes of Germany, UK, France, Denmark, US, et al. Basque country is, again, rich because it has an special tax treatment and could be considered a tax heaven to some extent.
  - nextos 2y ago
    The Basque Country has a GDP (PPP) of 108 [1]. Higher than France (101), as an average, or Italy (97). I'd say its a well developed region comparable to Northern Italy. Both were badly hit by the Euro. Had they kept their own currencies, they'd be closer to Sweden or Southern Germany. [1] https://www.eustat.eus/elementos/tbl0012365_i.html https://www.eustat.eus/elementos/tbl0012365_i.html
    - ladyanita22 2y ago
      Oh, I agree on that. I'm sure had we kept our currency, we would have suffered much less.
  - pier25 2y ago
    You’re cherry picking. Why don’t you compare it with any country in latam, Africa, or Asia? Spaniards tends to have this idea that Spain is a shithole when it’s really one of the best countries in the world.
WalterBright 2y ago
> a country not known for its vast wealth Its looting of the gold and silver from S. America apparently didn't help.
- Apocryphon 2y ago
  https://en.wikipedia.org/wiki/Dutch_disease https://en.wikipedia.org/wiki/Dutch_disease
- UncleSlacky 2y ago
  They brought so much to Europe that they crashed the market.
  - WalterBright 2y ago
    Indeed. All they got was inflation. Just like our government flooding the country with printed money. Same cause, same effect It's not a mystery what causes inflation, and inflation does not result in prosperity.

user-one1 2y ago

Basque country is one of the richest regions in Spain, which is already a highly developed country. Not sure what you are talking about.

ladyanita22 2y ago
I'm from Spain, so I'm quite sure of what I'm talking about. Spain might be a highly developed country, but its gdp per capita is not too high compared to the likes of Germany, UK, France, Denmark, US, et al. Basque country is, again, rich because it has an special tax treatment and could be considered a tax heaven to some extent.
- nextos 2y ago
  The Basque Country has a GDP (PPP) of 108 [1]. Higher than France (101), as an average, or Italy (97). I'd say its a well developed region comparable to Northern Italy. Both were badly hit by the Euro. Had they kept their own currencies, they'd be closer to Sweden or Southern Germany. [1] https://www.eustat.eus/elementos/tbl0012365_i.html https://www.eustat.eus/elementos/tbl0012365_i.html
  - ladyanita22 2y ago
    Oh, I agree on that. I'm sure had we kept our currency, we would have suffered much less.
- pier25 2y ago
  You’re cherry picking. Why don’t you compare it with any country in latam, Africa, or Asia? Spaniards tends to have this idea that Spain is a shithole when it’s really one of the best countries in the world.

WalterBright 2y ago

> a country not known for its vast wealth Its looting of the gold and silver from S. America apparently didn't help.

Apocryphon 2y ago
https://en.wikipedia.org/wiki/Dutch_disease https://en.wikipedia.org/wiki/Dutch_disease
UncleSlacky 2y ago
They brought so much to Europe that they crashed the market.
- WalterBright 2y ago
  Indeed. All they got was inflation. Just like our government flooding the country with printed money. Same cause, same effect It's not a mystery what causes inflation, and inflation does not result in prosperity.