Spain: the next Germany?
Tuesday, 12th February 2013
Spain will become the next Germany. That’s what the analysts from Morgan Stanley, the American multinational financial services corporation, are saying. According to the experts, in a recent trip where they visited Spain, even the most pessimistic agreed that the worst of the financial crisis was left behind and that the current controversies surrounding the government weren’t enough to bring it down.
The analysts at Morgan Stanley stated that in Germany the low interests, the real state inflation, and the rise of the salaries will improve the internal demand, but at the same time, diminish the external competitiveness. While in Spain, because of the recession, the reforms are lowering the unit labour costs and are helping the exports to evolve strongly. This will turn Spain into the new Germany