Who predicted the Spanish economic miracle 2013-17?  When people
in the future look back over the "Spanish economic miracle
2013-17" they will ask, how did (nearly) everyone miss the
signs? Everyone concentrated on the bad news, of which there
certainly was plenty – of high unemployment figures, a depressed
internal market and debt ridden local government and savings
banks (cajas). Even so, there were one or two articles starting
to appear in 2012 (like this one from the Telegraph that at
least acknowledges a “austerity miracle” and this one from
Bloomberg that talks of a “Spanish revolution” )  But few took
into account the changing picture in many areas that would
combine to bring the Spanish out of a painful recession and into
growth again. The reasons included the following:    1. The
preceding crisis created opportunities. Not just the fact that
tech knowledge and low cost start-ups were available to almost
everyone, but the crisis had forced many talented Spanish to
take advantage of new possibilities,