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Due to the death of Dictator Francisco Franco, the nation experienced a peaceful transition to democracy and is now a constitutional monarchy, with a hereditary monarch and a bicameral parliament, the Cortes Generales. After the death of Franco, they had a rapid economic modernization and joined the European Union in 1986. Under the constitution formed in 1978, and through its membership in the European Union, both the government and the economy have relative solid footing. Its memberships into the European Community required the country to open its economy to trade and investment, modernize its industrial base, improve infrastructure, and revise economic legislation to conform to EU guidelines...
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