Rajoy announces €8.9bn budget cuts and tax rises for the wealthy. Budget deficit misses target of 6% of GDP. It’s now 8% of GDP.
They have now seen the books left by the socialists and taken fright. For wealthy read ‘the middle class’ or anyone not in penury.
I took careful note during the election campaign and no mention was made of tax rises. This is going to hurt. http://www.guardian.co.uk/business/2011/dec/30/eurozone-crisis-markets-euro-2011
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