Strike Signals Uncertainty

IESE Prof. Antonio Argandoña: "Recovery lies in the hands of companies"



The general strike planned by unions on March 29 in Spain is a reflection of the high level of uncertainty that people are feeling, although most consider the government's austerity measures to be good policy, explains IESE Prof. Antonio Argandoña of the Department of Economics.

But real economic recovery rests in the hands of Spanish companies, which have already made significant strides in reducing costs, becoming more efficient and improving overall operations, he says. Although firms still face major obstacles, these changes will eventually lead to greater internal cash flows and enhanced performance.

IESE Economics Weekly