Prime Minister Rajoy to Unveil Deepest Spanish Budget Cuts in 30 Years

Posted by Kendall Harmon

Prime Minister Mariano Rajoy will unveil the most austere budget since before Spain’s return to democracy in 1978, risking a deeper recession in a bid to avoid succumbing to Europe’s debt crisis.

“There’s interest in seeing how they are going to manage this particular trick of cutting the budget so aggressively,” said Harvinder Sian, an interest-rate strategist at Royal Bank of Scotland Group Plc in London, during a telephone interview. “The recession will be dramatic.”

Read it all.

Filed under: * Economics, PoliticsEconomyConsumer/consumer spendingCorporations/Corporate LifeEuroEuropean Central BankTaxesThe Credit Freeze Crisis of Fall 2008/The Recession of 2007--* International News & CommentaryEurope--European Sovereign Debt Crisis of 2010Spain

Posted March 30, 2012 at 6:35 am [Printer Friendly] [Print w/ comments]
Registered members must log in to comment.

Next entry (above): (Church Times) Challenges remain, Primate warns, after dioceses block Anglican Covenant

Previous entry (below): Karen Loew—How Communal Singing Disappeared From American Life

Return to blog homepage

Return to Mobile view (headlines)