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Spain Has Staked Its Financial Survival On Cutting Its Deficit

 
waht
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User ID: 24118278
United States
09/24/2012 08:09 AM
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Spain Has Staked Its Financial Survival On Cutting Its Deficit
Madrid: Spain has staked its financial survival on cutting its bulging deficit, but analysts warn it will miss its key 2012 target, undermined by the very measures taken to try and meet it.
Prime Minister Mariano Rajoy has promised Spain’s European neighbours to cut the public deficit — the shortfall of revenues to spending — to 6.3 per cent of output in 2012, after they let him relax an earlier 5.3 per cent goal.
But a recession aggravated by budget tightening and widening holes in the finances of Spain’s big-spending regional governments have undermined his promise, as warnings have increased that Spain will need a full bailout.
“Nobody now believes it will be able to fulfill the target,” said Alberto Roldan, an analyst at Spanish brokerage Inverseguros.

[link to gulfnews.com]
Sword of mercy

User ID: 6195854
United Kingdom
09/24/2012 08:22 AM
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Re: Spain Has Staked Its Financial Survival On Cutting Its Deficit
Good start.
We will pass through the Seven Years or serve God's Will as martyrs.
Anonymous Coward
User ID: 24278651
Portugal
09/24/2012 09:14 AM
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Re: Spain Has Staked Its Financial Survival On Cutting Its Deficit
Duhh!

They, as in Portugal, are cutting our salary, raising taxes, and cutting investment for private companies.

And they expect the economy to GROW?

Wow, even my 4 year old kid can understand where this is heading - total collapse of the economy.
Anonymous Coward
User ID: 11929805
United States
09/24/2012 09:40 AM
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Re: Spain Has Staked Its Financial Survival On Cutting Its Deficit
LOL. This will NOT end well for them at all in an international race to debase currencies in this world economic war we currently find ourselves.
PravdaDemocrat

User ID: 19228212
United States
09/24/2012 11:11 AM

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Re: Spain Has Staked Its Financial Survival On Cutting Its Deficit
LOL. This will NOT end well for them at all in an international race to debase currencies in this world economic war we currently find ourselves.
 Quoting: Anonymous Coward 11929805


The debt will Never, ever be repaid without massive inflation...

You didn't think all that FREE SCHIT! was actually going to be "Free", did you?

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