This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at El presidente de La Caixa pronostica que España saldrá de la recesión este mismo año
The President of La Caixa predicts that Spain will emerge from the recession this year
05/02/2010
February 5, 2010
The President of La Caixa, Isidre Fainé, predicted today that Spain will emerge from the recession in the second half of this year and said that it will have to wait until 2011 to see the expected improvement in the labour market and of the deficit of the hand in hand with the gradual economic recovery at the international level. In press conference of presentation of results, it was considered that this 2010 will be a year of transition, in which the financial sector will experience a "moderate" volumes of business and development with a late payment to be a true path ascending in an environment of low rates.
According to Fainé, this exercise will remain a concentration of the sector, both in boxes such as banks, to adapt their structures, while in the field regulatory will increase the demands, with liquidity ratios. "A few years we will have to be in an uncertain regulatory environment," he added. However, the President of la Caixa wanted to send a message of confidence. "The crisis is not the end", he said, after noted that the action of the economic policies have allowed to start the wheel of the recovery.
