After a period of consolidation following the onset of Spain’s recession in 2009, which led some multinationals to sell assets regarded as non-strategic, particularly those that needed to reduce their debt levels, companies are investing again.
Prince Felipe will face a daunting array of challenges when he becomes king of Spain at midnight on Wednesday 18th June
This paper analyses Spain’s climate diplomacy in line with the Elcano report titled ‘Towards a Strategic Updating of Spain’s Foreign Policy’ and the State Foreign Action and Service Law (Ley de la Acción y del Servicio Exterior del Estado, LAESE).
Few anticipated that, within a matter of years, the position of Juan Carlos himself would be called into question.
The growth in foreign direct investment in Spain in 2013 underscores the increased international confidence in an economy that is beginning to recover from a five-year recession, albeit weakly.
This report aims to provide a structured overview of the issues that need to be addressed in order to overhaul Spain’s foreign policy strategy. It is directed at all those who play leading roles in the defence and projection abroad of Spain’s values and interests. Its novelty lies in Spain’s lack of a tradition in drawing up papers such as this, since the usual practice has been to focus on the short term and to disregard the need for both public doctrine and planning.
The Spanish banking system, hard hit by its massive exposure to toxic real estate assets following the collapse of the country’s property market in 2008, is on the mend.
Spain’s striking export success has enabled the economy to emerge from recession and helped to turn around the current-account balance. Structural adjustment is shifting the engine of the economy from domestic sources of growth into an export-led model.
Spain is coming out of recession, but the crisis is far from over. The government cannot afford to rest on its laurels and relax the pace of reforms. To do so, would store up problems for the future.
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