Is the crisis over? Yes, say some lawyers who point to an increase in foreign investment in Spain and more M&A activity as evidence of an economy in recovery. Indeed, it is true that more money is being ploughed into Spain – for example, statistics show that Spain´s retail investment market grew almost three-fold in 2013.
“Over the last few years, we have seen an increase in smaller law firms, comprised of high quality lawyers who were for one circumstance or another laid off by larger firms during the recession, or just decided to get out of a bigger set up,” says Gonzalo Navarro, Corporate Law Partner at Roca Junyent in Madrid. “However, things are now changing again, as the Spanish economy picks up, smaller law firms might start disappearing,” predicts Navarro.