The economic crisis affecting the industrialized countries in recent years has been singular given its intensity, complexity and the difficulties in overcoming it. The aim of this paper is to analyze the determinants behind the crisis that have made it deeper and longer in Spain than in previous...

The eurozone crisis started in Greece in 2009-10, spread into Ireland and Portugal, and, from there, quickly spread to the larger economies of Spain and Italy. By the autumn of 2011, it threatened the entire global financial system. In Europe's Crisis, Europe's Future, an international group of...

Following a deep recession in 2020 and further contraction in 2021Q1, the euro area economy recovered rapidly in the second and third quarters thanks to high vaccination levels, increasing household and business adaptability to the virus, and continued forceful policy support. Looking ahead,...