71. Spain's Constitutional Reform: What is seen and not seen
- Author:
- José M. Abad and Javier Hernández Galante
- Publication Date:
- 09-2011
- Content Type:
- Policy Brief
- Institution:
- Centre for European Policy Studies
- Abstract:
- On September 7th, five weeks after the European Central Bank (ECB) started buying Spanish bonds as part of its Securities Market Programme, and four weeks since Merkel and Sarkozy announced their proposal of writing debt limits into national laws, the Spanish Parliament has approved a constitutional reform that, by constraining the general government's spending and borrowing capacity, aims to mitigate concerns over public finances. This reform, the second since the current Constitution was enacted by referendum in 1978, has been made possible by an agreement between the ruling socialists (PSOE) and the main opposition party (conservative PP).
- Topic:
- Economics, Markets, and Labor Issues
- Political Geography:
- Europe and Spain