A Brief Reprieve for Spain

The European Commission has agreed to give Spain another year to meet its deficit target. For Madrid, this is a small reprieve ahead of general elections, which will almost certainly need to be held early. Spanish media reported that the decision was made during International Monetary Fund meetings in the United States from April 15 to April 17. It will be officially announced in the coming days. The commission's leniency will give Spain some breathing room to sort out its current political stalemate but it will not resolve the nation's fractious politics or boost its disappointing economic growth....