Spain set for corporate tax rise as Madrid tackles deficit - FT.com
. . . apparently Spain's current economic problems are not sufficiently deep, so the EU demands more pain.
"The beatings will continue until morale improves!" Why in the world would the Spanish continue tethered to this scourge?
"Madrid is under intense pressure to find new ways to cut its yawning budget shortfall after EU finance ministers agreed on Tuesday to formally open sanctions procedures against Spain and Portugal.
Both countries were found to have done too little to reduce their “excessive” deficits, which under EU fiscal rules should be no more than three per cent of gross domestic product. Spain is expected to post a deficit of 3.9 per cent this year, according to the latest forecast by the European Commission.
Ministers said that in both cases government efforts to respect EU budget rules had fallen “significantly short of what was promised”. Madrid and Lisbon were given 10 days to set out their arguments to the commission and convince Brussels they should not be fined."
Fines? This would be like fining poor families who do not have the money for a doctor when their children are sick for not taking their children to the doctor. Professional grade stupid.
The British realized the problem, and Brexited, who else has the balls? Bueller . . . Bueller . . . Bueller . . .