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Reply #42: Pressure builds on Rajoy to reveal plans [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Nov-23-11 09:45 AM
Response to Reply #13
42. Pressure builds on Rajoy to reveal plans
http://www.elpais.com/articulo/english/Pressure/builds/...

Prime Minister-elect Mariano Rajoy on Tuesday came under increasing pressure from the markets and the international community to unveil how he plans to get Spain's financial house back in order and avoid the fate of Greece, Ireland and Portugal in having to go cap in hand to the European Union and the IMF.

Just two days after the opposition Popular Party won an absolute majority in Sunday's general elections, Fitch Ratings urged the incoming government to come up with new measures to tackle the public deficit.

"The government's fresh mandate, following the victory, with an outright majority, of the Popular Party in Sunday's parliamentary election, provides a window of opportunity," Fitch said. "If it is to improve market expectations of its capacity to grow and reduce debt within the confines of the euro zone, it must positively surprise investors with an ambitious and radical fiscal and structural reform program."

In an editorial published Tuesday, the Financial Times said: "Rajoy has no time to lose. He must not miss the window of opportunity that his weekend election has opened."
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