 In the wake of its joining the EEC, Spain experienced an economic boom during two decades, cut painfully short by the financial crisis of 2008.During the boom years, Spain attracted a large number of immigrants, especially from the United Kingdom, but also including unknown but substantial illegal immigration, mostly from Latin America, eastern Europe and north Africa.Spain had the fourth largest economy in the Eurozone, but after 2008 the global economic recession hit Spain hard, with the bursting of the housing bubble and unemployment reaching over 25%, sharp budget cutbacks were needed to stay in the Euro zone.