Relevant:
- Promises Go Out the Window as Spain Undertakes Huge Tax Increase Coupled With Biggest Budget Cut in History
- S&P sees downgrade blitz in EMU recession, threatening crisis strategy
- Problems in Spain: Revenues Collapse, State Spends Nearly Twice as Much as Revenues Collected in First Half
- Here They Come: Ireland Demands Renegotiation Of Its Bailout Terms To Match Spain
- No Austerity for France, Just the PIIGS
2011-05-10 — blogspot.com
``Personal income taxes are down 19.4%; Corporate incomes taxes are down 42.7%; VAT collection is down 22.4%... Judging from the above, I am wondering how overall revenues are down only 16.2%. I am also wondering how soon the interest rates in Spain soar as they did in Greece, then Ireland, then Portugal.''
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