Friday, May 14, 2010
According to a source in Spain, the socialist government of Prime Minister Zapatero is now seriously considering pulling back on its plans to run an austerity budget.
Instead, the government may just be planning massive tax hikes, as popular unrest over its planned budget cuts grow.
This may be due to the ECB halt in purchasing Spanish and Italian government debt, after it believed confidence had returned to the market.
This article was posted: Friday, May 14, 2010 at 10:03 am