While Spain's economic future may be looking brighter, the same cannot necessarily be said for Prime Minister Mariano Rajoy, with his center-right People's Party challenged by the rise of popularity of a grassroots, political movement.
2015 is an election year in Spain and there are fears that the left-wing, anti-establishment party Podemos ("We Can" in English) could win the vote, set for the end of the year.
Like Syriza in Greece – with which the party has allied -- Podemos has surged in popularity as voters tire of ongoing corruption scandals in Spain and high unemployment. Although it was only founded a year ago, Podemos could even usurp the Socialist Party as the main left-wing candidate in Spain.
Indeed, a January 2015 poll by Metroscopia published in Spain's El Pais newspaper showed Podemos as the top choice for the majority of voters, taking 28.2 percent of the vote. The Socialists came next with 23.5 percent.
Things looked bad for Rajoy, with support for the People's Party continuing to decline. It garnered 19.2 percent share of the vote in the January poll, versus 20 percent in December.
Rajoy was dealt another blow on Tuesday from the separatist movement in Catalonia, an affluent region in northern Spain, which wants independence from the rest of the country.
Catalan Premier Artur Mas announced that early regional elections would be held on September 27. The vote will indicate the amount of support for a possible future referendum on independence for the region.
"Mas' strategy is to keep the pro-independence momentum alive while gaining time for his party to recover in the polls," Antonio Barroso, senior vice president at risk consultancy Teneo Intelligence, said in a note Wednesday.