I’m not sure if Rajoy is supposed to be left or right but his attitude to a Spanish bailout is total communism.
Apparently Rajoy will not be dictated to by the EU in return for EU money. In effect he is saying that he expects taxpayers money from around Europe but he does not want them to have a say in how it is spent.
Of course the normal attitude would be to not take the money if you are not prepared to take conditions. Anything else amounts to blackmail of the EU.
This is almost the same as the attitude of Tsipras in Greece. His position is that the EU will give bailout funds to the Greek government no matter what so why impose measures on the Greek people?
Rajoy’s position appears to be the same except he has many times the bargaining power of Greece. Rajoy knows that Spain’s banking system could collapse with a default which could lead to default of major banks throughout the Eurozone.
His position appears to be that there is no way the ECB will let that happen so why should he impose “austerity” on his government if he is going to get the money anyway.
You cannot blame Rajoy, he is a political after all, his future depends on popularity.
In reality his hand is strong, he is probably right, there is no way the Spanish economy is not going to get bailed out.
Draghi’s statement that he will buy unlimited bonds reinforces Rajoy’s position.
The way things are going, Europe is getting closer and closer to all out money printing, Rajoy is hoping that this happens before the Spanish economy collapses.
Time will tell to see who is right, Rajoy and the ECB, or the countries urging condition, ie Germany, Holland, Austria and Finland.
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