SPAIN: The Economist calls into question the merits of the reforms Rajoy – EntornoInteligente

SPAIN <- - AUGURE_NOTICIA_INICIO>: The Economist calls into question the merits of the reforms Rajoy / Expansion / The British magazine The Economist says in its latest issue that “unclear” what the weight that the reforms adopted by the Spanish Government are having on the recovery of the economy.

In an article titled ‘Back up’ (‘Back On Its Feet’), the publication highlights the importance of the recovery of the Spanish economy, as it was the one that would endanger the future of the single currency.

However, he adds that the economic downturn in the crisis was “so profound that Spain is still far from regaining all the ground lost.”

It also says that ” it is not clear how much of the recovery has to do with the much-vaunted changes in the Spanish economic policy “.

According to The Economist, the Spanish economy has been” benefiting “from the cyclical improvement in the Eurozone, as well as a sharp drop in energy prices caused by the decline of oil and policies of the European Central Bank (ECB).

However, the magazine adds that Spain has evolved ” much better “than the other euro countries. In his view, this increased recovery has to do with the labor reform, who saved two structural problems, as were the division between permanent and temporary workers, which lowered the cost of dismissal, and submission of enterprises to collective bargaining sector.

It also warns that you should put “in perspective” the recovery of the Spanish economy, because although now growing “rapidly”, GDP is still 4% lower than in 2008 and the unemployment rate remains the second highest in Europe after Greece.

In addition, he asserts that the recovery “has done little to heal the wounds opened during the years of crisis.” In this sense, The Economist points out that, although the recovery in Spain has been “longer and the recession has not been as hard” as in Greece, the country with the holding of general elections later this year, “also is vulnerable to political turmoil “.

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