Submitted by: Purnami, Jawik<\/strong>
\nOn: Nov 18, 2013 @ 2:36 PM<\/strong>
\nIP: 103.31.207.25<\/strong><\/p>\n\n
\nThe instability has occured in the Spanish financial system since the collapse of its housing market in 2008 and also the impact of global financial crisis in 2008-2009 which brought the world\u2019s financial system into a turmoil. As the time went on, that instability has become a severe Spanish financial crisis and caused Spain to have recession in its economy. Before the financial crisis finally occured, Spain had a high growth in its economy that was mainly supported by the booming of housing market sector. But the booming was based on the speculative actions by the economic actors such as easy, cheap, and wide offers of credit provided by the banking sector to the home buyers and developers. That condition created an imbalance between the financial and real economy of Spain because the growth it had wasn\u2019t showing the real condition of its economy that driven by much debts. As the fourth largest economy in the Eurozone, exactly the unsolved financial crisis in Spain has made a deep anxiety in the European Union board government because the impact of this crisis has brought effects in the regional level too. That\u2019s why the European Union has carried out some efforts to help in handling the Spanish financial crisis before the crisis caused more risky systemic impact to the existence of the European Union that has been considered as an ideal model of regionalism integration in the world. And this study aims to describe those efforts comprehensively.<\/li>\n