European Commission is demanding new immediate adjustments and insists the deficit objective this year be 4.4%. They denied that the Spanish government had inflated the deficit of 2011, but threaten to fine Spain for her structural imbalances.
ABC blames the Zapatero administration and says the economic management
of the previous government has placed Spain on the edge of discipline
from the EU.
La Razón headlines that the Government thinks the PSOE are behind the
claim that Rajoy inflated to deficit, to claim a larger reduction in
2012. It says the EU has denied that the Government had lied on the
public accounts, as Reuters was reporting yesterday.
La Razón says the Government will cut the wages of public sector company directors after limiting their bonuses.
And what is our supreme leader along with his party of Czars promising in our budget? I know we are not Europe, but we are still in big trouble. Instead of reducing the spending, both our parties are paying more attention on getting re-elected by allowing the working to keep $20 more dollars in their paychecks..............so?