标题：Testimony of the Governor of the Banco de España to the Parliamentary Committee on Economic and Financial Affairs on the occasion of the presentation of the 2009 Annual Report
期刊名称：Economic Bulletin / Banco de Espana
印刷版ISSN：1130-4987
出版年度：2010
卷号：1
出版社：Banco de España
摘要：The presentation of the Banco de España Annual Report for 2009 —the reason behind
my testimony today— has taken place at an exceptional time for both the Spanish econ-
omy and the Economic and Monetary Union. The economic and financial crisis spanning
2008 and 2009, from which most European countries had started to emerge in recent
months, has given way to a crisis in the euro area which was triggered by a specific epi-
sode, namely the Greek fiscal crisis, but whose systemic implications are proving most
severe. In particular, the Spanish economy, along with that of other countries, has been
seriously affected by these tensions and it is still too early to know whether the measures
adopted in Europe to safeguard EMU and those currently under discussion will be capa-
ble of fully dispelling the doubts that have emerged in recent months over the soundness
of this institutional framework. The responsibility of national authorities in this respect is
also crucial.
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