The chief economist for Spain at BBVA Research, Miguel Cardoso, points out that Portugal has pending challenges such as reforming its banking system, which still has a delinquency of more than 10%, a public debt higher than that of Spain (of 124% of GDP compared to Spain). 97% of the national) or domestic demand that has not yet recovered from the crisis. “The instability, yes, has been greatly reduced these three years,” he says. And remember that while the Spanish risk premium has stabilized at 115 points since 2015, the Portuguese has closed its gap considerably: from the 192 then to the current 130. It is difficult to envisage a summit of the Organization for Economic Cooperation and Development (Checkbook Register Template) in the one that does not appear Gabriela Ramos. Director of the cabinet and «Sherpa» for years who has been in charge of negotiating and representing the organization in the international tug of war, Ramos visits Madrid to participate, together with the Economy Minister Nadia Calviño, in a seminar organized by the «club of the rich countries “and the Ramón Areces Foundation. With humor and an exquisite diplomacy, Ramos recommends to Spain reforms to “reduce youth unemployment or dropping out of school and invest in education.”
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-As we are negotiating for the entire OECD, we ask that you wait until 2020. This type of issues can not have a national agreement. The capitals are global, they enter and leave, and at the moment you impose a local solution, you generate negative market distortions for countries and citizens. There are many countries that have announced that they will approve a Google rate … but after 2020. Because in 2020 the OECD will take out the common project. We have registered very important advances and I believe that now there is a willingness of the countries to reach an agreement, because they know that if there is not everyone will lose. If not, there will be a fiscal war between states that does not get us anywhere
-It is interesting that the Spanish economy has behaved more resiliently than the rest of the European Union, to which we have lowered the growth forecast from 1.8% to 1%. Especially for Germany, which has been plagued by the Chinese slowdown and commercial tensions. And with this the Spanish economy, despite everything, remains dynamic. In this environment, consumption and investment continue to be solid and since domestic demand is the engine of growth, we hope that it will continue. Evidently there are too many Checkbook Register Template external risks, such as fear in foreign investment, or Brexit. And while Spain is not as exposed as Holland, Denmark or Ireland, it is part of this environment of uncertainty in which investors are waiting for what happens. What will happen to the Brexit? No one knows, every day the United Kingdom says something different. It is an impossible situation that shows that it is not so easy to disconnect without damaging.