Sumario

Letter from the Editors Changes in European financial and monetary conditions: Summer 2018 / Santiago Carbó Valverde and Francisco Rodríguez Fernández Spain’s bank-sovereign nexus (I): A view from the sovereign side / Ángel Berges and Victor Echevarria, A.F.I. The reform of the Spanish cajas: From savings banks to banks and foundations / Ángel Berges and Fernando Rojas, A.F.I. The Spanish economy in slowdown mode / Raymond Torres and María Jesús Fernández Is Spain experiencing an export miracle? / Juan de Lucio, Raúl Mínguez, Asier Minondo and Francisco Requena Spanish investment in R&D+I in the wake of the crisis: Public versus private sector / Ramon Xifré Italy and possible implications for eurozone stability / Erik Jones Recent key developments in the area of Spanish financial regulation / Prepared by the Regulation and Research Department of the Spanish Confederation of Savings Banks Spanish economic forecasts panel: July 2018 / Funcas Economic Trends and Statistics Department KEY FACTS Economic Indicators Financial System Indicators Social Indicators