The Spanish Legal Framework for Curbing the Public Debt and the Deficit

The purpose of this paper is to briefly explain the current Spanish legal framework to curb the debt and deficit introduced after the constitutional reform of September 2011, before the ‘Six Pack’ and the ‘Fiscal Compact’ (Treaty on Stability, Coordination and Governance or TSCG) were approved, and in so doing, to address two questions: to what extent has the reform changed the previous Spanish legal environment of debt and deficit limitation and what consequences will it have on the Spanish ‘quasi-federal’ model of autonomous communities