The last fifty years of the Spanish economy have been characterized by a continuous process of external openness, deregulation, stabilization, and the adaptation of its institutions to their inherent and natural environment: Europe and the Western world.
•This process has been successfully carried out, with notable progress in nominal and real convergence.
•The Spanish economy has modernized, raised its standard of living, and achieved a prominent position on the international stage.
•The economy is currently experiencing the most severe crisis in the last 50 years, which, as in previous crises, demands difficult but feasible adjustments and reforms that would pave the way for a new period of prosperity and real convergence.
Chairman’s presentation with charts.
