Uncertainty in the Eurozone: Market Prices Unaffected

Spanish Economy Meets International Investors

Luis de Guindos presented the current status and future of the Spanish economy to international investors at the 2026 Spain Investors Day held in Madrid. This event, which evaluated economic data, also shed light on the overall outlook for the Eurozone.

Strong Trajectory in Economic Activities

De Guindos argued that economic activities in the Eurozone have remained strong despite challenging conditions, noting that the region's integration into global supply chains has made it an open economy against external shocks. However, he warned that geopolitical instabilities and trade policies could impact this economy.

Uncertainty Not Reflected in Markets

De Guindos emphasized that the prevailing high level of uncertainty in the global environment is not reflected in current market prices. He cautioned that this uncertainty could lead to negative surprises that may affect different asset classes.

Risk Scenarios and Inflation Concerns

Noting that countries with high trade dependence and public debt are under greater risk, de Guindos stated that escalating trade tensions, issues in artificial intelligence, and doubts about the financial reliability of the U.S. could impact inflation.

Rising Competition from China

Finally, de Guindos mentioned that increasing export shares of China in high technology and green technology sectors are heightening competition among Eurozone countries. This situation may affect key sectors within the Eurozone.