Spend, Spend, Spend, as monetary restrictions suspended

IN 2011, regulations concerning deficit and debt ceilings were added to the Spanish Constitution due to the problems with the economic crisis but now these have been suspended by the Spanish Parliament.

By abstaining from the vote on October 20, the Partido Popular allowed the minority government ignore deficit targets for two years and to borrow without restriction in order to combat he coronavirus pandemic.

Prior to this, the Head of the International Monetary Fund (IMF) Kristalina Georgieva effectively encouraged unlimited spending whilst the global problems continued.

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Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Currently he is acting as Editorial Consultant for the paper helping to shape its future development. Share your story with us by emailing newsdesk@euroweeklynews.com, by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews