Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Zapatero to cut defecit and not bow to markets

Mon 22th Feb 2010

Spain and other debt-laden governments will tackle their budget deficits with as much aggression as is possible without damaging economic growth, Prime Minister Jose Luis Rodriguez Zapatero said on Friday.

However, the Spanish leader said the pace of fiscal consolidation would not be dictated by financial markets which were largely to blame for the credit crisis.

"Of course, we are going to reduce the deficits but not in the interest of a few funds. We are not going to fall in the trap of the ideas of those who created the financial crisis," Zapatero told a conference in London.

"We are going to reduce the deficit with the maximum austerity possible."

Zapatero also defended the Greek government, which is struggling to contain a debt crisis.

"The largest majority (in Greece) has no responsibility for what has happened and much less Papandreou's government that deserves trust for the steps it has undertaken and the credibility it has shown," he said.

Comment on this Story

Be the first to comment on this Story !!

Recommended Items