18 November 2011

SPAIN / EUROZONE : Conservative Mariano Rajoy...Madrid's Next PM? Expect Pain...And More Pain Ahead!

                                        TELEGRAPH / short profile

     Conservative Mariano Rajoy, 56...hails from the hard scrabble lands of northwest Galicia...and is widely believed to be the next PM...after Sunday's election.
     In fact, the 'markets' have already discounted his victory...yet Spain's sovereign debt rates are soaring.
     Rajoy is a true believer in more 'austerity' measures...which should delight Germany and the ECB...but not the growing number of 'indignados.'

  FOR OPINION: Have the Spanish people 'given up'? If so...they are in store for a new world of pain under Rajoy.