But few think the troubles are over.
The World Bank still sees Spain’s situation as very serious, reports the Tehran Times. One of the biggest issues is Spain’s massive unemployment, which at nearly 20%, is the highest in the eurozone. On a positive note, the World Bank does think Spain’s fiscal austerity measures – to slash the deficit from 11.2% to 3% of GDP by 2013 – is a move in the right direction. [Europe’s Fiscal Mess.]
Wherever Spain goes from here, the ETF clearly has a long march ahead before it touches the 200-day moving average. At the moment, it’s about 18% below the key mark.
For more stories on Spain, visit our Spain category.
- iShares MSCI Spain Index (NYSEArca: EWP)
Sumin Kim contributed to this article.