Spain’s deficit to fall below Germany’s for the first time in two decades
Spanish fiscal position aided by political paralysis
Spanish fiscal position aided by political paralysis

Fifty years after the death of Franco, rancorous divisions in parliament have choked off policy debate

Rome and Madrid rewarded by investors for cutting deficits, while France and Germany look to borrow more

Softer price pressures in large Eurozone economies strengthen case for ECB to hold interest rates

Country leads the formerly weak southern EU economies that are now outpacing France and Germany

Italy, Spain and Poland struggle to get recovery programmes off ground

Exemption for higher defence spending will help Berlin avoid corrective measures, says bloc’s economy commissioner