MADRID — These would not seem to be the most opportune days to try to buff Spain’s image. The lingering economic crisis has crippled public morale, and young people despair of finding work. Corruption scandals have shaken people’s faith in their leadership…
The most committed optimists say Spain’s main problem is one of communication.
“The Spanish authorities basically spent four years denying problems such as those of the banks, thinking that such denial would protect Spain’s image,” said Ignacio de la Torre, a partner at Arcano, a Spanish wealth advisory and asset management firm and also the Academic Director of IE´s Finance Masters Programs. “But the result turned out be exactly the opposite.”
Arcano recently published a bullish economic study written by Mr. de la Torre called “The Case for Spain,” intended to help debunk some “common myths about Spain,” including the idea that Spaniards are inefficient. It highlights statistics showing Spain’s productivity outpacing that of Europe’s largest nations in recent years.
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