Guindos said Spain slowing note – Newspaper

Guindos said Spain slowing note – Newspaper

Monday, September 22, 2014

Luis de Guindos (center) greets Minister Japanese Finance Minister, Taro Aso, on Saturday in Cairns.

The Minister of Economy, Luis de Guindos , warned from the Australian city of Cairns, where the G20 met, that the Spanish economy is also feeling the slowdown in the euro zone, that he believes has had an impact both in comercialess flows and expectations.

The Eurozone GDP grew only 0.2% in the second quarter, mainly due to the zero growth of Franci and the fall of GDP of Germany, which fell 0.2%. This, coupled with low inflation (0.3%), experts have raised fears that there may be a third recession. “The Spanish economy is not absolutely immune from what happens in Europe,” Guindos, who explained that the representatives of the 20 countries spoke in general terms about the eurozone slowdown and finding solutions to re told growth, without specifically mentioning the alleged pressure on Germany to do more effort and more investment and thus boost progress in Europe.

“Not yet specified any particular country has been expressed that there is slowdown in the euro zone, which is a reality, “said the minister. Burgundy stressed that while Spain has managed to correct their “domestic imbalances,” the main risk facing is “what can happen in the European environment.” “Much of the future of the Spanish economy and the maintenance of recovery in Spain is played in Europe, as it can not be otherwise,” he said, recalling that the Spanish economy grew by 0.6% last quarter compared to zero growth of the continent.

In this context, the minister hoped that the measures taken by the European Central Bank ( ECB ) and depreciation rates and injecting liquidity into the markets and other structural measures by countries to improve the situation.

Evasion

European slowdown (and Japanese) was also G20 downgraded the aim of further growth of the global economy from 2% to 1.8% through 2018 due to an “uneven recovery” and “weaker” than expected, and the low rate of job creation.

The IMF managing director, Christine Lagarde, attributed the low and uneven economic growth to increased “geopolitical tensions” in Ukraine and in the Middle East and the risk of destabilizing financial markets. Therefore, the G20 leaders analyzed 900 measures to try to grow faster and faster.