Bank of Spain said the fourth largest economy in the 16-nation region will expand 0.2% in the second quarter,

Bank of Spain expects sharp spending cuts to provoke stagnation Bank of Spain said the fourth largest economy in the 16-nation region will expand 0.2% in the second quarter, similar to the first three month's growth. The bank expects the strongest spending cuts since at least 1980 would affect recovery path and cause stagnation, yet it mentioned that this recession is temporary till the end