Spain keeps Europe in its grasp

A SUPPLEMENT TO EUROMONEY/JUNE 1996 The tasks of government By conceding power to regional parties, Spain’s government may find it more difficult to make it into European monetary union. Jules Stewart reports On the day Spain’s centre-right government took office, it found out the hard way the high cost of shooting from the hip. Even […]

A SUPPLEMENT TO EUROMONEY/JUNE 1996

The tasks of government

By conceding power to regional parties, Spain’s government may find it more difficult to make it into European monetary union. Jules Stewart reports

On the day Spain’s centre-right government took office, it found out the hard way the high cost of shooting from the hip. Even before he was sworn in, foreign minister Abel Matutes said in an interview that if Spain failed to meet the Maastricht convergence criteria on time, the clock should be stopped to allow it a chance to catch up.

The