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If elected, Mr. Rajoy will face a tricky balancing act of cutting the primary deficit without hurting growth too much.
But this should not hurt GDP growth too much because other factors should help offset the weakening.
Mr. El-Erian said Europe's conundrum "basically comes down to three issues: too little growth, too much debt and too little differentiation".
The possible pattern is clear: a series of crisis meetings, a few half-hearted efforts at reform to buy off Germany's Angela Merkel, not enough growth, too much austerity, and then another crisis.
And as countries like Germany pushed for harder austerity terms, he was vocal in saying that could backfire by slowing economic growth too much — which seems to be the case in Greece today.
In his office one recent morning, he grabbed a marker and drew a curve on a flip chart to illustrate scientific findings that while a certain amount of stress is necessary for learning and growth, too much interferes.
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"This crisis did not come about because we issued too little money but because we created economic growth with too much money and it was not sustainable growth," Merkel said in an interview with the Financial Times.
In short, to find attractive long-term growth stocks, look for a product or service that offers the opportunity for substantial future growth without too much competition.
Media reports probably treat the government's initial estimates of job growth with too much credulity.
"The growth is too much, too fast," said Vivek Namagyal, a Leh resident, pointing to a cluster of new businesses on the new outskirts of town.
As long as they deliver economic growth without too much public protest, officials can still expect promotion, however polluted their areas.Optimists see changes afoot.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com