Good news for Spain: -Spains balance-of-payments adjustment - TopicsExpress

Good news for Spain: -Spains balance-of-payments adjustment within the eurozone is proceeding at a faster pace than expected. -The banking sector restructuring has advanced well since 2012. -Financing conditions for the sovereign have improved in 2013, reflected in substantial savings in interest expenditure this year (we estimate 0.7-0.8% of GDP) and a recent issue of a new 30 year benchmark bond. -Spain has exited recession in H213, sooner than forecast in our previous review in February 2013.

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