No Growth Means No Jobs or Returns as Pimco’s Normal Hits Europe

No Growth Means No Jobs or Returns as Pimco’s Normal Hits Europe

Angel Navarrete/Bloomberg

Five years ago, electrician Fran Lopez was living in Madrid’s wealthiest suburb with his wife and new-born baby and earning up to 4,000 euros ($5,200) a month upgrading electricity substations for Iberdrola SA, Spain’s largest utility.