The reality of EU economic rule by Rehn! EU Tyranny!
Spain is supposed to bring down its deficit to 4.4 of GDP this year, but given the recession, the government is now trying to negotiate a five-percent target, the Financial Times reports.NB "Recent past shows that a change of government is not seen as enough of a reason to accept an adjustment in a country's agreed targets."
Madrid already missed its deficit target in 2011, when Rajoy disclosed that it exceeded 8 percent of GDP compared to the 6 percent declared by his predecessor, Jose Luis Rodriguez Zapatero.
Recent past shows that a change of government is not seen as enough of a reason to accept an adjustment in a country's agreed targets. When Belgium finally formed a government last year it still had to pass spending cuts within a tight deadline or face severe fines.
“We will work with the Spanish authorities and decisions will be taken once we have a full picture,” said Rehn referring to when the budget is drawn up and submitted to the EU commission in March. Rehn also said that his services will examine if last year's overshoot of the deficit target was a one-off and if the blame lies with the central or regional governments.
Democracy is clearly dead within the Eurogroup. In Ireland their civil servants negotiated the austerity between elected Governments, as happened in Portugal! In Belgium fines are exacted in spite of a change in governance, ie regardless of the policies poltical parties might offer their voters during an election campaign. Yet still Europeans contniue as if their daily lives will continue as before, while tyranny is installed on every side!
Labels: EU tyranny