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Spanish politician warns cuts are necessary “if we don’t want to become another Argentina”

Monday, July 23rd 2012 - 20:21 UTC
Full article 33 comments
Esperanza Aguirre: “very simple, we can’t spend more than we make” Esperanza Aguirre: “very simple, we can’t spend more than we make”

The President of the Community of Madrid, Esperanza Aguirre, has warned about the “difficult” situation Spain is going through, and said “If we don’t want to become another Argentina, with a ‘corralito’ and inflation rates around 20-40%, we must cut the public spending and find the accounts’ balance.”

“We have to cut all subsidies, though I’m not of the idea of increasing taxes since they are counter productive”, Aguirre told reporters on Monday and added: “This is very simple, we can’t spend more than what we make.”

Likewise, the official stated that “it is necessary to make some cuts at several public offices’, which unveils to possible job cuts of civil servants.

“The situation of Spain and of the community of Madrid are very difficult, very hard, and even when a bit better than other regions, it’s not an island. And therefore I believe all Spaniards have to be clear about the fact we must cut expenditures”, said Aguirre.

She added that it is a matter of cutting outlays in the same proportion as income has dropped, “it’s something very simple that all homes practice: don’t spend more than what you make”

“We are all well aware that we can’t spend more than our income. We must put an end to all subsidies, subventions and government ‘suckling’; it’s over, we must increase our income”, insisted Aguirre who as head of the Madrid Community admitted that “city offices will have to be closed, expenses drastically cut, very painful but necessary”.

Categories: Economy, Politics, International.

Top Comments

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  • ChrisR

    At least this woman is talking economic sense unlike The Mad Bitch Of Argentina.

    Great news for the Community of Madrid.

    Jul 23rd, 2012 - 08:50 pm 0
  • Condorito

    Talking sense is not going to be enough.
    To say Spain risks becoming another Argentina is a little arrogant.
    I would rather be in Argentina’s predicament than Spain’s.

    Argentina is a rich country that is baddy run.
    Spain is a poor country that has been badly run.

    Argentina can turn its ship around. Spain is just slowly becoming an extension of the Sahara and it is hard to be optimistic about its future.

    Jul 23rd, 2012 - 09:24 pm 0
  • briton

    What a thing to say,
    We hope the mighty empress CFK takes grave offence to that remark,
    And warns spain of the consequences,
    Impounds Spanish ships,
    Turns other south American countries against her,

    An insult if ever there was one,

    Still, if you go round insulting others,
    eventually, others will insult you lol.
    Come on CFK , give us another laugh .

    Jul 23rd, 2012 - 10:12 pm 0
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