New Year’s holidays have passed, but the hangover for the single European currency could take a long time. This may well be related with the upcoming on January 25 early parliamentary elections in Greece, which according to the polls is likely to win the left Syriza party and its leader Alexis Tsipras.

The recession in the Spanish economy is deeper than previously thought. Once again checking the data for 2012, The National Statistics Institute of Spain (INE) reported that over the past year the gross domestic product fell by 1.6% instead of 1.4%, as previously reported.