Spain: Staff Report for the 2011 Article IV Consultation; Public Information Notice; Statement by the Staff Representative; and Statement by the Executive Director for Spain.
July 29, 2011
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A decade of strong expansion in the Spanish economy led by a credit-fueled housing boom was hit by three major shocks. The policy response to Spain’s economic challenges has been strong and wide-ranging, helping to strengthen market confidence. A decisive implementation of the envisaged financial sector reform strategy would help allay lingering market concerns. A bold strengthening of labor market reforms is needed to substantially reduce unacceptably high unemployment. Further progress needs to be made on enhancing competition in nontradable sectors.
Subject: Banking, Employment, Housing prices, Labor, Labor markets, Public debt, Unemployment
Keywords: capital, CR, Employment, Europe, financial market spillover, FROB capital backstop, Global, ISCR, Labor markets, market discipline, private sector savings-investment balance, Spain, Unemployment, vis nonresident
Pages:
69
Volume:
2011
DOI:
Issue:
215
Series:
Country Report No. 2011/215
Stock No:
1ESPEA2011001
ISBN:
9781462340552
ISSN:
1934-7685
