Spanish Economy To Go On Neoliberal Diet
An economic stimulus plan of lower taxes on businesses, privatization, and cuts to unemployment benefits has been accepted in Spain Friday as the government there tries to stem the tide of growing deficits and unemployment by neoliberal means. Neoliberalism, the strategy of economic governance that relies on free market capitalism and the opening of barriers to foreign direct investment, is the most-favored mechanism by many multilateral organizations to “fix” broken economies. —JCL ctv.ca The Spanish government has approved a package of new austerity measures and economic stimulus that it hopes will ease investor fears about its debt. The moves include selling off nearly third of its national lottery, partially privatizing airports, cutting a jobless benefit and trimming taxes for small companies. The measures were agreed to at a weekly cabinet meeting Friday. Spain, which has soaring unemployment and a swollen deficit, is battling to convince markets it can handle its debt and won’t need a bailout from the European Union and International Monetary Fund like Ireland and Greece. Read more Related Entries December 2, 2010 Cheney May Face Nigerian Bribery Charges November 30, 2010 Wendell Potter on ‘Deadly Spin’
Go here to see the original:
Spanish Economy To Go On Neoliberal Diet
Posted by
on December 3, 2010. Filed under