Weekly Review 10 - Late Franco Flashcards
When was the Treaty of Madrid?
1953
What was the Treaty of Madrid?
American loans, which the Spanish govt said could only be spent within Spain
What was inflation like 1956-9?
20%
What was unemployment in 1959?
35%
When was Morocco granted independence?
1956
When was Franco’s cabinet reshuffle that allowed him to limit Falange involvement?
February 1957
Who did Franco promote in his cabinet reshuffle?
Technocrats and members of Opus Dei
What was Opus Dei?
secretive Catholic organisation
What did technocrats believe?
used their expertise
embraced the free market
open minded to foreign investment and international trade
When was the Stabilisation Plan introduced?
Summer 1959
What was the Stabilisation Plan?
open up the Spanish economy to global influence
Prices of what were particularly affected by the ‘economic miracle’?
tobacco, petrol and food
What was the growth in foreign investment like 1959-73?
3,895 million to 105,430 million pesetas per year
Where was foreign investment primarily coming from?
40% USA
17% Switzerland
10% Germany and Britain
When did President Eisenhower visit Spain?
1959
What was Franco’s new economic policy?
Desarrollismo (developmentism)
How much foreign capital was invested 1960-74?
$7.6 billion
How much was loaned to the government 1960-74?
$1 billion
In 1970 how much of the investment in electronics was foreign?
42%
In 1970 how much of the investment in car manufacturing was foreign?
50%
