“The ghost of a new recession in the EU clearly materialised in the financial markets yesterday [15 October], as European stocks suffered their most severe drop in recent months,” writes El Mundo.

“Germany rang the alarm bells on earlier this week by drastically lowering its growth forecast, which resulted in German bond yields falling to record lows yesterday,” adds the Spanish daily. Moreover —

the IMF has warned about major European economies slowing down. The risk of a potential general stagnation in the eurozone is aggravated by France and Italy, which are in difficulty. Past French governments failed to change the course: the French economy is unable to regain competitveness and [prime minister] Manuel Valls’s government is fighting to implement its reform program.