The challenges the international financial crisis poses for the Spanish economy

José Luis Malo de Molina

Economic Bulletin, 2009, issue APR, No 8, 163 pages

Abstract: the correction of some of its main domestic imbalances as the crisis hit, and which has now entered recession, along with everybody else. In the case of Spain, the prevalence of the international crisis should not mask the fact that its effects are coming on top of an adjustment that was in itself complex and costly. Both the domestic and international factors must be borne in mind if we are to make a correct diagnosis and identify the challenges ahead. From this starting point, I do not intend to focus on a description of the economic situation – those interested in this information may consult the latest quarterly report published by the Banco de España – but rather to analyse in depth some of the most salient features of the diagnosis and some of the main challenges facing the Spanish economy in this difficult situation.

Date: 2009
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