Despite putting the austerity drive into fifth gear, overall spending is due rise 9.2 percent as a result of higher interest rates on public debt and Social Security system outlays, largely a result of unemployment benefits, with a quarter of the working population out of a job.Umm, it's not austerity if the budget is increasing by nearly 10% and it's certainly not "austerity drive in fifth gear".
Thursday, September 27, 2012
Sentence of the Week
Over in Spain, they're putting the finishing touches on their annual budget. The write up in El Pais contains this gem: