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"Spain had all the conditions to be battered by the crisis, said today at the head of the Cabinet UCAM Situation and Statistics of the Savings Bank Foundation (FUNCAS) Angel Laboy, who has delivered a lecture entitled 'The Spanish economy into consideration. "

Labonte has analyzed the current economic situation in Spain, to solve problems and appropriate strategies to overcome the crisis and explained that "over-investment, the price bubble in the housing sector, the lack of competitiveness and a deficit 10% make a difference in our situation before the crisis compared to that in the U.S. and the rest of the euro zone. "

Angel Laboy explained that "the development of the economy is cyclical in nature and that the phases of expansion are depleted due to the generation of imbalances that tend to set in periods of recession.

However, what has characterized the end of the current cycle has been the outbreak of the financial crisis, caused by accumulation of imbalances and shortcomings in the management chain in the regulation and supervision, "he explained.

Laborde added that "the economy in Spain not only faces the problems typical of a normal cyclical downturn.

The problem has much more depth to the point that the nation may be disengaged from the historical process of convergence with the neighboring countries more developed. "

The economist said that "when you are in a crossroads situation, it is necessary to establish a proper exit strategy, which should start with a good diagnosis of the situation and weigh the factors at play in order to build on and strengthen the most favorable and face the worst. "

Source: UCAM