Did an IMF report, panic Spain into an early general election?
France's AFP, gave more detail; some of the IMF quotes it gave being as follows:
...."unemployment remains unacceptably high, inflation is again above the euro area average and sovereign and bank funding costs remain elevated and volatile.
"The recovery is likely to be modest and export-led, with significant downside risks dominating, especially that of further contagion from rising concerns about sovereign risks in the euro area."
Given the above, is it not somewhat surprising that the Spanish Government did not follow the example of Cyprus, set earlier in the week, by having the Cabinet resign en masses and call a prompt general election?
Spain has thus become yet another EMU member to be delivered a lame duck government. Co-incidence?
Labels: Now Spain
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