Prince Says “More Europe” the Answer to Spain’s Economic Woes

06/21/2012 20:25

LAHT: NEW YORK – Spain’s Crown Prince Felipe began a visit to the United States with a speech on Wednesday urging stronger euro zone institutions as a remedy for his country’s “serious economic difficulties.”

“Some of the problems we face are shared by other European countries, also part of the euro zone,” he said in remarks to the Global Business Colloquium at IESE Business School’s New York Campus.

“These problems, which are partly the consequence of the monetary union’s fragile architecture, can only be dealt with by implementing a stronger institutional framework for the euro,” the prince said. “We need more Europe!”

Felipe, who was accompanied by his wife, Princess Letizia, went on to acknowledge that some of Spain’s economic problems are particular to the Iberian nation.

“Our government is introducing very profound reforms that should put us on our way to correct the economic imbalances we have accumulated in recent times,” the U.S.-educated prince said.

He likewise cited the need to “revitalize” cooperation between the United States and Europe, at both the macroeconomic and business-to-business levels.


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