Political Developments in Spain
Fixed Interests
English - August 01, 2019 15:34 - 8 minutes - 7.85 MBBusiness News Politics economics sovereigns Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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Michele Napolitano, Head of Western Europe Sovereigns, and Alex Muscatelli, Director, discuss the failure of Pedro Sanchez to win a confidence vote in the Spanish parliament on 25 July. This could delay fiscal consolidation measures scheduled for 2020, although this would not significantly change our debt-to-GDP projections. The increase in political instability in recent years has not damaged the economic recovery that has supported Spain’s fiscal adjustment. However, a cyclical slowdown will lessen the role of GDP growth in deficit reduction.