The book analyses the Spanish financial system from the turn of the last century to the present day and the economic, social and political backdrop to this history. The result is a consummate survey of historical developments leading right up to today's key issues and challenges, and to what the future may hold.

JOSÉ LUIS MALO DE MOLINA Director General for Economics, Statistics and Research at the Banco de España (the Spanish central bank), Spain. He has authored numerous publications on macroeconomics, economic policy, the labor market and the financial system. PABLO MARTINACEÑA Professor of Economic History in the Universidad de Alcala, Spain. He has been Visiting Scholar at the University of Cambridge, UK, Harvard University, USA, and Science Politiques in Paris, France. He has published several books and articles in monetary and financial history.