5th Reform Monitor
The fifth release of the Spanish Reform Monitor, 2016-Q1, goes to press when there is still no government in Spain after the general election that took place in December. The economic uncertainty this generates is one of the most salient features in our experts’ comments. So far, there are no signals that this is affecting real activity in Spain. However, many major remaining reforms are pending and downside risks are more prevalent in the international scenario now than four months ago.