New austerity measures introduced by the Spain government failed to boost investor sentiment, sending European market down. Unless the European Central Bank intervenes aggressively, the European markets are unlikely to calm down. Hans Goetti, CIO-Asia, Finaport Group told NDTV Profit that the austerity measure present no solution to Spain unless the economy grows at this same time. "Economic growth of Spain is unlikely as currency devaluation is not possible," he added.
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