So says the Bank of Spain in its annual report just published 3 June 2016
- Spain needs detailed plan to tackle deficit
- ECB action has boosted Eurozone growth, and inflation
- doubts over politics pose risk for economic reforms, future growth
- expects low rates, declines in lending and high bad-loan levels to weigh on bank profitability
- fiscal consolidation, pvt de-leveraging, external debt, and productivity provide challenges for growth
Reality check time and welcome to see.
Euro not fazed with eyes on the main NFP event looming ever closer.