The Spanish Minister of Economy and Competitiveness, Luis de Guindos , emphasized the ‘positive surprise’ of the Spanish economy, but acknowledged that the ‘break’ of the eurozone puts the monetary union ‘crossroads’ economical. ‘Obviously, there has been a slowdown in the euro zone, the euro economy has come to a standstill in the second quarter, “De Guindos said at a press conference in Washington after his participation in the annual meeting of the International Monetary Fund (IMF) .
The minister noted that despite the upward revision of the forecast for Spain, the 1.3% in 2014 and 1.7% in 2015 , which has been one of the “surprises positive ‘encounter, growth’ virtually zero ‘eurozone places the region in a’ crossroads’ economic. ‘Spain is not immune to what happens around us , and the Eurozone is our environment (…) and yet have been able to grow at 0.6% in the second quarter ‘he explained to reporters.
however, said that “without doubt, be much better for the Spanish economy, which is an open economy, the euro zone grows’, which considered as a ‘vital element’. ‘I hope that Europe enters a third recession’, said.
The latest estimates of the Fund lowered growth in the euro area to 0.8% this year and 1.3% next, reflecting the slowdown in economies like Italy (-0, 2%) and France (0.4%), and the weakening of Germany (1.4%). Given this context, De Guindos stressed: ‘By the end of the year, we need to reflect on what is happening in Europe with growth and economic strategy’ within the euro.
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