Spain Outshines Euro Area as Draghi Morality Tale Echoes
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Mario Draghi’s morality tale on the need for structural reform will resonate this week in data revealing Spain outshone the region’s biggest economies yet again.
Reports on Nov. 14 predicted by economists to show a recession in Italy, and marginal growth in France, Germany, and the euro area as a whole, will reinforce a parable the European Central Bank president tells every month. That theme has particular poignancy for Draghi, an Italian whose country has become the poster child of economic sclerosis.