Open Europe Blog

As fears of the sovereign debt crisis continues to haunt Europe, our series looking at reckless or clueless statements from politicians goes on. Today we turn to Spanish Prime Minister José Luis Rodríguez Zapatero. In an interview with the Wall Street Journal back in September, he said:

“I believe that the debt crisis affecting Spain, and the eurozone in general, has passed.”

Two months later: Zapatero has announced a new package of privatisations to reduce Spain’s sovereign debt issuance for next year by one third, amid fears of escalating borrowing costs for the country. This package includes selling a 30% stake in the cherished Loterías y Apuestas del Estado – one of the world’s oldest and most lucrative lottery groups….

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