Spanish recovery offers little hope for youth

Once the new Spanish government is formed, it will be confronted by enormous challenges. An immediate issue will be the budget deficit, which is expected to be around 5.2 per cent in 2015 and 3.6 per cent in 2016. These deficits significantly exceed the targets set by EU finance ministers which stipulate that Spain’s deficit should be less than 3 per cent by 2016. The EU narrowly decided against imposing sanctions on Spain as a result.