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January 14, 2014

Europe believes in Spain

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Europe believes in Spain

Confidence of countries of the European Union in the Spanish economy is increasing and nowadays it is at a high level. Namely it is now on the level where it was in 2007, before the global economic crisis.

Such conclusions were made and presented by the Council of Europe commissars during their speech after the publication of the official European “economic confidence index” (ISE), which is markedly increased in comparison with previous years in total in Europe and in particular in the case of Spain.

While the European commissars still have asked the president of the government of Spain, Mariano Rajoy, to continue with the policy of reforms for higher productivity and more stable results. Spain still has work to do in economic and social terms.

The representative of Council of Europe in Economics, Simon O'Connor, has analyzed the obtained findings and the overall result was very positive. “European economic confidence indicator” for the euro area as a whole rose that he has not reached since July 2011. In the case of Spain, European citizens have demonstrated their confidence in the Spanish economy and the index rose by 4 points, which was the most noticeable increase of EU economies. Germany and France Index was little changed, while the figure of Italy increased by 2.3 points and 1.5 points of Holland.

According to the Commissar O'Connor, “this inspiring news added to other optimistic news received recently on improving the economic situation in Spain and that the unemployment rate has stabilized and is beginning to decline”. “We really hope that this trend will continue and strengthen” – added European commissar Olli Rehn on the official daily press conference of the European Council.

Meanwhile to maintain positive trends in the Spanish economy and get better results, the European Council asks the Spanish Government to continue firmly with reforms in the financial and economic sphere, which are already beginning to show results.

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