Now Spain Is Jumping On The Balanced Budget Amendment Bandwagon

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Photo: SuperFantastic on Flickr

The balanced-budget fad is still going strong.Cristobal Montoro, the spokesperson for economic policy of Partido Popular, is advocating a law that would prohibit a public deficit.

His support for a balanced-budget law comes on the heels of Italian PM Silvio Berlusconi’s announcement last week that a balanced-budget amendment is on the way.

Spain implemented a balanced-budget law in 2001-2002 while the PP had control of the Spanish Parliament.

“The [incumbent] socialist government modified the law and now look where we are,” Montoro said at a press conference this morning.

All signs point to the PP regaining power in the upcoming national elections this November.

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