Spain must step carefully on the road to recovery
The Spanish economy is at a crossroads where many challenges must be addressed to prevent a long period of economic weakness, said Miguel Fernandez Ordonez, the governor of the Bank of Spain.
Ordonez added that the intensity of the adjustment the Spanish economy was undergoing further compounded the pressure on the financial system in terms of asset impairment, increased bad debts, narrower banking margins and the gradual reduction in the buffers built up by the system.
He said not all
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