SPAIN
BROAD MONEY SUPPLY
Spain has no national money supply. Since 1999-01 the euro is issued for the euro area as a whole — a Spain share of the money stock cannot be measured separately.
WHY THERE IS NO CHART HERE
- ONE CURRENCY, ONE CENTRAL BANK: THE ECB CREATES EUROS FOR ALL 20 MEMBERS AT ONCE.
- BANK DEPOSITS CROSS BORDERS FREELY — A “SPAIN M2” WOULD COUNT THE SAME EURO TWICE.
- THE NATIONAL CENTRAL BANK THEREFORE STOPPED PUBLISHING NATIONAL MONETARY AGGREGATES IN 1998-12.
- THE MEANINGFUL NUMBER LIVES ONE LEVEL UP — ON THE EURO AREA PAGE BELOW.
EURO AREA — BROAD MONEY (M3)[ GO TO EURO AREA → ]
VALUE
$19.90TGROWTH/YR
4.7%DOUBLES IN
15.1YOBS
2026-061980-012026-06
STATUSESP
REGIMEEURO AREA MEMBER
MEMBER SINCE1999-01
NATIONAL SERIESENDED 1998-12
RELEVANT SERIESEURO AREA M3
VALUE$19.90T
OBSERVATION2026-06
SOURCEECB BSI M3 (U2)
WE HOLD NO PRE-EURO NATIONAL SERIES FOR SPAIN. ANY SITE SHOWING A “SPAIN M2” FOR A DATE AFTER 1998-12 IS REPORTING A PRE-EURO SERIES OR AN ERROR.