Spain's fiscal consolidation has "gained traction" says Fitch following news the country's...

|By:, SA News Editor

Spain's fiscal consolidation has "gained traction" says Fitch following news the country's deficit/GDP ratio fell below 7% in 2012 (excluding the cost of the bank bailout). Just for the record, the target as per agreement with the EU was 6.3%. The only thing gaining traction may be Rajoy's efforts at lowering expectations. EWP flat YTD.