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Zapatero Sacrifices Party for Cuts as Spain Debt Beats Italy.
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Showing posts with label
Zapatero Sacrifices Party for Cuts as Spain Debt Beats Italy.
Show all posts
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Posted On 12:17
by Reportage
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Spanish Prime Minister Jose Luis Rodriguez Zapatero is sacrificing his Socialists’ hold on power at the altar of austerity. The Socialist premier, whose constitutional amendment to ban budget deficits goes to the Senate today, has helped push Spanish bond yields to the lowest in two years relative to Italian rates. His rollback of the social safety net, along with a jobless rate of 20.9 percent, has made People’s Party candidate Mariano Rajoy the favorite to win Nov. 20 elections, polls show.
