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Life and Culture

Life and Culture

Cell phones have become an indispensable element or our lives. The small screen that holds hundreds of applications and resources for work or play facilitates our day-to-day life. And, in developing countries, the cell phone can be a powerful tool for improving the health, education or the income of the poorest people.

When the deep crisis of the first half of the 1980s was over, the banking sector had undergone a process of consolidation. After restructuring, the most stable and solvent banks took over those that had not been able to survive the depression. The most important banking groups grew stronger, but had to take even more ambitious and decisive steps to meet the challenges posed by the new European landscape.

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The 1973 oil crisis, which arose due to the tensions that led to the Yom Kippur War, set off a global chain reaction that also affected Spain. The increase in commodities prices, and a steady decline in Spain’s economic cycle, led to truly difficult times for the banking sector. The upward trend that had begun in the early 1960s was immediately stopped, and worrisome warning signs began to appear, such as an increase in unemployment and a fall in the value of money.