Eurozone crisis: Spain inching closer to a meltdown
2012-09-28 0:00

From: The Extinction Protocol

Violent protests in Madrid and growing talk of secession in Catalonia are piling pressure on Spanish Prime Minister Mariano Rajoy as he moves closer to asking Europe for rescue money. In public, Rajoy has been resisting calls from bankers at home and the leaders of France and Italy to move quickly to request assistance, but behind the scenes he is putting together the pieces to meet the stringent conditions for aid.



With protesters stepping up anti-austerity demonstrations, Rajoy presents painful economic reforms and a tough 2013 budget on Thursday, aiming to persuade euro zone partners and investors that Spain is doing its deficit-cutting homework despite a recession and 25 percent unemployment.

Figures released on Tuesday suggested Spain will miss its public deficit target of 6.3 percent of gross domestic product this year, and on Wednesday the central bank said the economy continued to contract sharply in the third quarter. By pre-empting reforms demanded by Brussels — such as creating an independent fiscal auditor — Rajoy hopes to sell them to voters as home-grown rather than imposed from outside.

Diplomats reported intense last-minute pressure on Madrid on Wednesday from key euro zone policymakers to take tougher measures, notably on freezing pensions. On Friday, Moody’s will publish its latest review of Spain’s credit rating, possibly downgrading the country’s debt to junk status. On the same day, an independent audit of Spain’s banks will reveal how much money Madrid will need from a 100 billion euro ($130 billion) aid package that Europe has already approved for the banks.

[...]

Read the full article at: theextinctionprotocol.wordpress






Outside the the Spanish parliament in Madrid, September 25, 2012.









Related Articles
Eurozone as it happened: Riot police clash with anti-austerity protesters in Madrid


Latest News from our Front Page

ABC Is Hiding Details of Killer Vester Flanagan's Manifesto ...(Must Be Littered With Liberal Propaganda)
2015-08-29 3:45
Killer Vester Flanagan was a big Obama supporter. But, you’d never know it from the liberal media. The media is hiding Flanagan’s political leanings from the American public. ABC has yet to release Flanagan’s manifesto. It must be littered with embarrassing liberal propaganda. The Tatler reported, via Instapundit: Two days ago, ABC News reported that Vester Flanagan, the murderer of two WDBJ employees, sent a 23-page ...
Austria, Libya count dead as number of migrants crossing Mediterranean soars
2015-08-29 1:37
Austria said on Friday 71 refugees including a baby girl were found dead in an abandoned freezer truck, while Libya recovered the bodies of 82 migrants washed ashore after their overcrowded boat sank on its way to Europe and scores more were feared dead. The U.N. refugee agency said the number of refugees and migrants crossing the Mediterranean to reach Europe ...
Financial Times Calls For Abolishing Cash
2015-08-29 1:07
liminating physical currency necessary to give central banks more power The Financial Times has published an anonymous article which calls for the abolition of cash in order to give central banks and governments more power. Entitled The case for retiring another ‘barbarous relic’, the article laments the fact that people are stockpiling cash in anticipation of another economic collapse, a factor which ...
Serbian government bans anti-mass immigration protests, and plans ahead for mass immigration
2015-08-29 1:52
Nebojsa Stefanovic, Serbia’s Interior Minister said protesters who are concerned about “an EU plan” to settle thousands of illegal immigrants into the country, will not be allowed to voice their concerns in a protest march on Monday, 31st of August. “We will not allow the expression of intolerance and hatred to be something that is characteristic of Serbia” said Stefanovic. “The Ministry ...
Germany asks Facebook to remove 'racist' anti-migrant posts
2015-08-28 20:32
Heiko Maas, Germany's justice minister, says social network should remove xenophobic posts in the same way it deals with nudity Germany is calling on Facebook to remove “xenophobic and racist” anti-migrant posts from its website and apps. Heiko Maas, the German justice minister, has written to the company to demand an urgent review of its policy over hate messages. “Photos of certain ...
More News »