Political uprising in Spain shatters illusion of eurozone recovery
Simon Tilford from the CER said Spain is not out of the woods and the eurozone's elites are "mistaking a modest cyclical upturn for something more profound". Mr Tilford warns that the country will enter the next global downturn with its economic defences largely exhausted and few tools left to fight recession, and above all with populist parties already gaining a deep foothold. The political shock over the weekend is the first thunderclap.