Brussels is asking for budget cuts no Spanish government could deliver or can deliver. For more than a year neither Rajoy’s 10-month interim administration nor his 15-day-in-office minority government can deliver cuts.

Brussels is demanding €5,5bn cuts, to bring the Spanish economy in line with the 3,8% deficit target in 2017 from the current -4,6. The fundamental projections for the Spanish economy published on Wednesday project better than expected growth this year – hence smaller deficit –...


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