Detail Hard Pounding; Spanish Woes   Oleh:  [s.n] Jenis: Article from Bulletin/Magazine Dalam koleksi: The Economist (http://search.proquest.com/) vol. 403 no. 8787 (Jun. 2012), page 56. Topik: Economic Crisis; Politics; Banks Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.72 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel The deluge of bad news from Spain continues. Borrowing costs hit new highs, shares sink--and Mariano Rajoy's reformist government is dumbfounded. Why are the markets so cruel? One reason is that Spain's problems always turn out bigger than they seem. The cost of rescuing the country's fourth-biggest lender, Bankia, has spiralled over the past three weeks to some EUR 23.5 billion. A whopping hole has also appeared in Spain's 2011 accounts, pushing the budget deficit up from 8.5% of GDP to 8.9%. This is raising new doubts about Spain's finances. The main fiscal worry is the regional governments. Set the task of cutting their combined deficit last year, they did the opposite, increasing it by some 14% instead. Now the regions are struggling to raise money. Some are frozen out of the markets. Catalonia's president, Artur Mas, has set off jitters by saying that either the government borrows money on the regions' behalf, or bills will go unpaid. "And that hurts the real economy," he notes. The Catalan government has hoovered up a quarter of local savings by issuing patriotic bonds. Madrid is expected to raise special bonds to fund the regions. But that will just add to Spain's overall debt. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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