The governor of the Bank of Spain, Miguel Fernández Ordóñez, on April 10 struck a positive note discussing progress made by the Spanish economy, but warned there was still much work to be done to stabilise the country permanently.

Ordóñez said the financial crisis had forced a "full-fledged industrial restructuring of the Spanish banking system" to occur.

"So as to be able to have a new toolkit adapted to this crisis, more than half a dozen laws had to be approved," said the governor. "A most