On austerity and the economic outlook in Portugal and Spain

In today's links were two articles which highlighted the juxtaposition between declining sovereign bond yields and worrisome economic fundamentals in Spain and Portugal. Both are from Reuters. In the wake of the Draghi Put that the ECB applied with the announcement of its OMT program, yields in the periphery have come way down. Meanwhile the economy on the ground is still terrible. In Spain and Portugal in particular, this is worrisome.
Here's what Reuters had to say in the first article; the h...


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