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Spain’s Socialists Show Italy How to Do It

Ferdinando Giugliano, (2018), “Spain’s Socialists Show Italy How to Do It”, Bloomberg, 23 Οκτωβρίου

The Spanish prime minister is running a minority government, with his Socialist Party holding less than one-quarter of the seats in parliament. Undaunted, he’s trying to cobble together a budget that would raise the deficit targets set by his center-right predecessor Mariano Rajoy.

The measures, which include an increase in social spending and higher taxes on richer individuals and corporations, might not be the best way to strengthen the Spanish economy. But they show at least that it’s possible to offer a left-wing budget while not making a mockery of the European Union’s fiscal rules. Italy, take note.

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