Félix states that Spain is heading off a cliff with a fiscal gap of €150 billion a year. While government revenues declined after the pop of Spain's real estate bubble, government spending actually increased. He argues that must off the newly implemented "cuts" in reality are tax increases which will further slow the economy.''
Monday, September 24, 2012
''Spain is headed off a cliff''
Félix states that Spain is heading off a cliff with a fiscal gap of €150 billion a year. While government revenues declined after the pop of Spain's real estate bubble, government spending actually increased. He argues that must off the newly implemented "cuts" in reality are tax increases which will further slow the economy.''
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