There's a big difference in the mood about the euro zone at this year's World Economic Forum in Davos, Switzerland, compared with last year according to Klaus Regling, Head of the European Stability Mechanism (ESM). He added that the bloc has embraced reforms such as fiscal consolidation, while working on integration and it also boasts a stronger banking sector. Regling said Spain is making good progress, and does not expect Madrid to request a sovereign bailout this year.
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