J.P. Marín- Arrese | The Spanish government has released its main budgetary lines, in a rather unusual and surprising way. For, it holds responsible the former PP Cabinet for most of the expenses plus a sizeable deviation from the deficit goal in 2018. The least one can say is that such a baffling message underlines its inability to curb the imbalance while enjoying power for the second half of this year.
spain fiscal consolidation
AXA IM | Four months after the elections, negotiations to form a government officially failed and new elections will be organised on 26 June. However, it remains very unclear that their outcome will be more favourable, though probably conducive to a government as a third round of elections would be a tremendous failure. Fiscal consolidation and Catalonia’s independence will be top priorities.