Two years have passed since the Spanish economy fell back into recession, with a further 3% decline in real GDP and the additional destruction of 1.5 million jobs, raising the unemployment rate above an exorbitant 27%. Nevertheless, the balance of these two years highlights significant progress in correcting internal imbalances, along with the adoption of a wide range of measures aimed at strengthening and making our economy more flexible.
Important initiatives have also been taken in the Eurozone and the European Union, notably the design of the banking union, which has eased market tensions, restored greater confidence, and created a more favorable environment for economic activity.
