Abstract

CASAIS PADILLA, Enrique. The response to the crisis in the EU: Spain on the way to its "lost decade". Prob. Des [online]. 2011, vol.42, n.166, pp.37-62. ISSN 0301-7036.

In the context of the present global crisis, the impositions of the European Central Bank (ECB) and the International Monetary Fund (IMF), mainly with respect to the control of the budget deficit and the need for new structural reforms in the public pension system and the labor market, are a species of "economic suicide" for the peripheral countries of the European Union (EU), among which is Spain. These policies will condemn Spain to a long period of recession and high unemployment, which leads us to affirm that, if these policies not changed, Spain will experience its own "Lost Decade".

Keywords : Spain; European Union; crisis; deficit; ECB.