Olli's back from his Xmas hols, let the 2012 slapstick begin!

To start the New Year's fun, Olli is surprised by the "slippage" (apt phrase) in Spain, read here. A quote indicating the EU Commissioner must have spent all last year asleep on his job if he managed to be surprised by the mess in Spain:

The Commission will carry out a detailed assessment of the larger-than-expected slippage and the budgetary impact of the new package once we have received all the details.

Overall this set of measures gives a much needed signal to underline the new government's determination to bring back the correction of the excessive deficit to the envisaged path within the deadline of 2013.