Fri, 20 Jul 2012 16:18:21 GMT
Spain cannot find a way to deal with sovereign debt crisis
As demand for
Spanish bonds weakened and interest rates jumped to a
crisis-peak-time high of 6.46%, Spain already has cut public salaries
by 7% and raised VAT up to 21%. Leader of the Socialist
Party Alfredo Rubalcaba claimed Spain might loose up to 600
000 jobs next year and unemployment could reach 32%. Moreover,
Cristobal Montoro, treasury minister, proposed second VAT rise in the
future in order