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Investments Bank Morgan Stanley: Spain may in a few years’ time become the “new Germany of the Euro zone”

The prestigious Investments Bank Morgan Stanley has issued a press release stating that Spain may in a few years’ time become the “new Germany of the Euro zone” based on the reduction in labour costs, the reforms introduced by the Government and the improvement in exports.

The President of the European Central Bank Mario Draghi has also supported the Government’s reforms and hopes for a quick recovery in Spain.

 The Spanish Stock Market Index IBEX 35, on its part, has after severe drops in the first half of 2012 increased by 35% during the second half-year.

Finally, it is worth noting the good performance of the tourist sector with Spain ranking third in the world in number of tourists visiting the country, about 60 million, a figure in excess of Spain’s 45 million population itself.

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