To: The Vice President of the Spain Government Mrs. Soraya Sáenz de Santamaría From: Athinarayanan Sanjeevraja Date: April 18, 2012. RE: The economic crises in Spain Suggestion: Good Morning Mrs. Vice President. Of course, this is my first inscription to Spain Government. Financial Times, London articled on April 12, 2012 that “Spain needs pre-emptive action”. It addressed three main problems such as the budget, the banking sector and the labour market. The task is an arduous but it is not impossible because Spain has proven itself competent of economic reform and financial restructuring. If I am not mistaken, the country current account deficit was 10 percent GDP in 2008. The current account deficit descended to 3.7 percent in 2011. Spain has adjusted its current account deficit more than 6 pp of GDP at a spectacular space in three years. The significance of other economic reforms is such as reducing the budget deficit and labour market reforms to incre
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