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by Phoenix Capital Research
Earlier this month, Spain began “rocking” the EU boat by telling the EU it wasn’t going to meet the new EU fiscal requirements.
Spain’s sovereign thunderclap and the end of Merkel’s Europe
As many readers will already have seen, Premier Mariano Rajoy has refused point blank to comply with the austerity demands of the European Commission and the European Council (hijacked by Merkozy).
Taking what he called a “sovereign decision”, he simply [...] By Ambrose Evans-Pritchard Economics Last updated: March 5th, 2012 (Photo: Corbis) The Spanish rebellion has begun, sooner and more dramatically than I expected. As many readers will already have seen, Premier Mariano Rajoy has refused point blank to comply with the austerity demands of the European Commission and the European Council (hijacked by Merkozy). Taking what he called a “sovereign decision”, he simply announced that he intends to ignore the EU deficit target of 4.4pc of GDP [...] |
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