Saturday, June 20, 2009

Spain decides more Govt may not be the answer

WHAT!!!! More government meddling may make the economy worse?? Alert the press, stroke your chin in wonderment!!

Link HT: Danny Newton
Spain's central bank told the government on Tuesday (16 June) there is no room for further spending measures above those already announced, and warned that the country's rising budget deficit could hamper growth when a global upturn arrives.

"We have to stop public sector debt becoming an obstacle when the Spanish economy is in a better condition to grow," said central bank governor Miguel Angel Fernandez Ordonez in a speech accompanying the Bank of Spain's annual report.