I am delighted by this opportunity to share some remarks on Europe here in Madrid. In some regard, Spain exemplifies the strength of the European commitment:
- As a country which, in the face of a severe crisis, has shown a strong resolve to embrace European solidarity,
- And as a country in which structural reforms – although painful - have been efficient and successful, from the financial sector to the labor market.
- At the same time, the Spanish experience also shows the absolute necessity of fiscal policy coordination, both before and after the crisis.