Spanish Economy Ceases to be the Centre of Debate

The Minister of Economy, Luis de Guindos, says the condition of the Spanish economy is no longer the main subject for discussion at G20 meetings.

Madrid, Spain, February 27, 2013 — The Minister of Economy, Luis de Guindos, says the condition of the Spanish economy is no longer the main subject for discussion at G20 meetings.

Speaking at the end of the G20 in Moscow, the Minister said: “This has been the first G20 meeting at which I have not had to be the lead speaker” or “the one who kicks off the whole affair”. Guindos said this was a “positive sign in terms of the perception of the Spanish economy”.

This backs up figures published recently by the Elcano Institute for the Marca España Observatory. These revealed that the number of news items and negative references to the economic situation in Spain on economic websites and blogs in the English-speaking world fell in September. It is also true, however, that the economic press only places importance on macroeconomic data and the effect these have on debt.

The Minister said he had discussed the Spanish economic situation with his European counterparts at the G20, and even with the future Secretary of the Treasury of the United States, all of whom “totally agreed that the tension has reduced”.

He also referred to the OECD report advising Spain to only pay unemployment benefit to people actively seeking work, to make salaries more flexible and to improve education in order to boost competitiveness. “The OECD makes many recommendations and the Spanish Government studies them carefully”, explained de Guindos, who said they were not “anything groundbreaking”.

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