Tempestuous TImes: Spain and the Euro  

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Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 403 no. 8780 (Apr. 2012), page 57-58.
Topik: Geographic Profiles; Problems; Federal Budget; Budget Deficits; Sovereign Debt; Gross Domestic Product--GDP; Statistical Data

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.71 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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With Spain now at the center of the euro crisis, Nicolas Sarkozy holds it up as an example French voters must avoid. A leading think-tanker is widely quoted saying that Spain is good for flamenco, red wine and nothing else. As Spain's ten-year bond yields crept over 6% this week, talk of a bail-out for the euro zone's fourth economy is getting louder. The deluge of criticism has caught Mariano Rajoy's government by surprise. Some officials admit to a slip-up over this year's budget target, which Rajoy wanted to be 5.8% of GDP whereas Brussels insisted on 5.3%. But the government does not believe this justifies all the Spain-bashing. Reforms to banks, the labour market and the budget have all been rushed through in Rajoy's first four months in power. An austerity budget aims at a huge EUR 27 billion cut in the deficit. And the government is threatening to take direct control of some regions' finances. Many see a looming bail-out from the ECB, the EU and the IMF.

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