Spain s economy will remain among the fastest growing in the eu- rozone in ----, in spite of the country s ongoing political impasse. Tailwinds from cheap oil and the European Central Bank s quantita- tive easing programme will support short-term growth, but will act as a disincentive for politicians to implement the structural reforms needed to boost long-term growth. ...Spain s economy will remain among the fastest growing in the eu- rozone in ----, in spite of the country s ongoing political impasse. Tailwinds from cheap oil and the European Central Bank s quantita- tive easing programme will support short-term growth, but will act as a disincentive for politicians to implement the structural reforms needed to boost long-term growth. Spain s current account surplus has peaked and will shrink over the coming years, returning to deficit in around ----. Already unrealistic budget deficit targets will move further out of reach once a new government is (eventually) formed in Spain. Spain is set for a period of high political instability, as the December -- election produced no clear winner and left Spain with an extremely divided political system.
...Cyclical tailwinds in ---- will mask Spain s failure to address structural impediments to long-term growth. The ongoing political impasse will lead to an even slower pace of reform. Cyclical tailwinds in ---- will mask Spain s failure to address structural impediments to long-term growth. � � eurozone in ----, in spite of the country s ongoing political impasse(see Election Implications: Fragmented Result Worst Possible Outcome , December -- ---- that, while cyclical factors could continue papering over the forthecountryislesspositive. ...� � eurozone in ----, in spite of the country s ongoing political impasse(see Election Implications: Fragmented Result Worst Possible Outcome , December -- ---- that, while cyclical factors could continue papering over the forthecountryislesspositive.
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