Eurozone unease spikes as the single currency turns 20

SPAIN begins a general election campaign this week after Prime Minister Pedro Sánchez called on Friday an early general election, the third such ballot in as many years. However, far from being an exception, the latest governmental uncertainty in the eurozone's fourth largest economy comes as there are mounting signs of political instability and stagnating growth in other large European economies such as Germany, France and Italy.

With the eurozone "celebrating" its 20th anniversary this year, the single currency area stands on the brink of yet another significant downturn. And this even before the possibility next month of a no-deal Brexit which could be a significant economic shock across the continent.

The Spanish election, to be held on April 28, comes only seven months after Mr Sánchez was sworn in as the nation's prime minister. And the political instability in the country is mirrored in France, where President Emmanuel Macron remains under severe pressure from the so-called "yellow vest" protests; Germany where Chancellor Angela Merkel's long period in power is in its twilight; and Italy where Prime Minister Giuseppe Conte was forced on Friday to dismiss speculation that reported tension between coalition partners the Five Star Movement and The League could cause it to collapse.