Corporate debt causing woes in Spain

All the more reason to think that the PP (Partido Popular) government's drastic budget cuts (and the "labor reform" cheapening firing) are just the opposite of what we need here. It's not the government deficit that is causing the crisis, but rather the crisis of the private economy that has caused the deficit.

In Spain, Grupo A.C.S.’s High Debt Reflects Country’s Finances - NYTimes.com

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