Spain has suspended six of the ten macroeconomic indicators of the European Union – unemployment, public debt, private debt, exports, investment and net current account balance – after the EU identified serious and ‘excessive’ imbalances.
Brussels considers that Spain, along with Italy, Cyprus and Hungary, have problems classified as in urgent need of attention and Spain, in particular, is being called upon to correct excessive imbalances in the six macroeconomic indicators.
Spain is carrying out structural reforms to improve the labour market and overall competitiveness and the EU will obviously be scrutinising these measures very closely.