Artículos

In the aftermath of the eurozone sovereign debt crisis, countries such as Spain, Portugal, Greece, Ireland, and Italy became synonymous with economic fragility. Yet, under a decade on, a remarkable narrative shift is underway, with these so-called peripheral economies now outpacing Europe's traditional economic powerhouses in growth, investor confidence, and reform momentum.

Llos recientes cambios de política impulsados por la nueva AdministraciónTru han generado un shock adverso significativo, cuya magnitud, si no se aborda, se amplificará tanto con el tiempo como a nivel internacional. Los aranceles a la importación provocarán una seria contracción a corto plazo sobre los ingresos de los hogares, el gasto de los consumidores, los márgenes de beneficio y la inversión empresarial, incluso suponiendo que no haya más represalias de los socios comerciales.

Las medidas tarifarias decretadas por Washington el pasado 2 de abril abren un periodo de gran incertidumbre para la economía mundial, al tiempo que marcan un punto de inflexión para el sistema multilateral.

The evolution of Spain’s institutional sectors since the creation of the euro reveals significant disparities in output and capital investment. The non-financial corporate sector has driven most of the economic activity, while the current output of households barely reaches maximum 2005 levels and the fall in real corporate fixed capital since the pandemic raises concerns about long-term growth potential.

Inflation has increased Spain’s tax burden by eroding the real value of tax allowances and pushing taxpayers into higher brackets. The lack of systematic indexation has disproportionately impacted middle-income earners, raising questions about the fairness and sustainability of current fiscal policy.