Financial Times (April 27)
2012/ 04/ 30 by jd in Global News
The Spanish people were willing to suffer austerity when Prime Minister Mariano Rajoy “sent the people of Spain a message of hope for the future.” Now the hope is gone and “Mr Rajoy finds himself in an impossible situation. For all the talk of European solidarity, the EU has insisted that his deficit-reduction plan should proceed at an excessive pace. This was bound to trigger a popular backlash.” A similar backlash is rising up in Italy and the Netherlands. “Citizens may have been favourable to their initial message of austerity for a higher cause, but they will not tolerate being led into a dead-end.”
Tags: Austerity, Deficit reduction, EU, Italy, Netherlands, Rajoy, Spain
