Morgan Stanley, an American investment bank, says that Spain will become the next Germany of Europe.
They say the fall in labour costs and reforms lead to important growth at the end of 2013. Joachim Fels, the author of the report, says accusations against politicians are not changing things, and Spain is becoming the motor of the Eurozone.
to become: to convert itself, to change into
the next: the following, the one after
fall: a drop, a decrease
labour costs: the money it costs to hire people
author: the person who writes
accusations: the written allegations, the charges, the blame
politicians: people who govern or work in government
to change: to modify, to make (things) different