Spain's Federal Budget Announces Large Spending Cuts, Lengthy Debate To Begin, Unlikely To End Well

By: Ian Campbell | Fri, Sep 28, 2012
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You likely are being besieged by the announcement yesterday that Spain has announced a budget for next year that proposes:

The budget now goes to parliamentary debate, which is said could last for weeks.

Concurrently:

Recall that:

Spain is a big deal, and I think in the end Spain's budget debates are unlikely to end well, and that will prove to be not a 'good big deal' for the Eurozone and for the world economies.

Topical Reference: Spain's crisis budget aims at spending cuts not tax rises, from Reuters, Andres Gonzalez and Paul Day, September 27, 2012 - reading time 3 minutes.

Also see: French budget and Spanish bank stress tests: live, from The Telegraph, Szu Ping Chan, September 28, 2012 - reading time 3 minutes.

 


 

Ian Campbell

Author: Ian Campbell

Ian R. Campbell, FCA, FCBV
Business Transition Simplified

Through his www.BusinessTransitionSimplified.com website and his Business Transition & Valuation Review newsletter Ian R. Campbell shares his perspectives on business transition, business valuation and world economic and financial markets influences on those two topics. A recognized business valuation and transition authority, he founded Toronto based Campbell Valuation Partners Limited (1976). He currently is working to bring his business valuation and transition experience to both business owners and their advisors in our new economic, business and financial markets normal.

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