Luis M Linde: Developments in the economic situation

Address by Mr Luis M Linde, Governor of the Bank of Spain, to the Asociación Española de Directivos, Santa Cruz de Tenerife, 1 March 2018.

The views expressed in this speech are those of the speaker and not the view of the BIS.

Introduction

Let me begin by thanking the Tenerife Asociación Española de Directivos for their kind invitation to me to join you today.

The European environment

I shall devote my address to the current situation of the Spanish economy. I will begin by highlighting the favourable cyclical juncture at which the euro area - the economic environment closest to us - stands. The upturn in which the euro area economy is immersed may be classified as robust and dynamic, and extensive to all productive sectors and countries.