Competitiveness will be key to Spain’s prospects of a durable economic recovery and the chances of cutting debt. Spain would probably benefit from a devaluation of her currency but there are other factors that drive competitiveness in global markets. Indeed there are plenty of large and medium large Spanish businesses that have growth and export potential even if Spain stays within the Euro Zone. The growing share of Spanish service exports is a good sign especially in the areas of financial services and engineering. This FT video looks at what Spain might do to bolster overall competitiveness including a focus on research and development and innovation together with economic reforms designed to raise productivity.

Updates:

Spanish unemployment reaches new record level (BBC news, April 2013)