| Author (Person) | Harding, Robin, Johnson, Miles |
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| Series Title | Financial Times |
| Series Details | 2.8.12 |
| Publication Date | 02/08/2012 |
| Content Type | News |
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The FT reported comments by IMF Managing Director Chrstine Lagarde on the 1 August 2012 that Spain was already doing what the International Monetary Fund would demand in return for a bailout, in an endorsement of the country’s economic policy. Her comments both argued that Spain should not need an IMF rescue but also suggested that it might obtain one without much change to its domestic economic policies. The article also discussed the difficult relations between the central government in Spain and its highly devolved regions. The regions had combined debts of €140bn of which €35bn matured in 2012, and had become the latest front line in the centre-right central government’s drive to meet budget deficit reduction targets agreed with the EU. Andalusia walked out of a meeting of the Council for Fiscal and Financial Policy held on the 31 July 2012 to protest against austerity measures imposed by the central government. Catalonia boycotted the meeting, while Asturias and the Canary Islands voted against the measures, which were supported by regions controlled by the ruling conservative Popular Party. |
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| Countries / Regions | Spain |
