Spain Economic Outlook. First Quarter 2012 (including Chinese version)

Summary

- 2012: uneven growth in Europe, which will lag the rest of the world. - Fiscal adjustment in Europe: needs to be continuous and rigorous to be credible, and balanced to prevent the recession from deepening. - Spain, in recession again, faced with the challenge of preventing massive job destruction. - Bolstering growth prospects requires the same ambition in labour and financial reforms as in fiscal consolidation.

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