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Spain's Rajoy resists pressure to reveal crisis plans

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Spain's Rajoy resists pressure to reveal crisis plans


He is getting down to work but keeping his cards close to his chest.

Fresh from a landslide election victory, Spain’s next prime minister must try to rescue the country from financial disaster. But Mariano Rajoy is resisting pressure to disclose his plans.

The stark reality was all too clear, even amid the celebrations, as Standard and Poor’s confirmed Spain’s credit rating at ‘AA-’ with a negative outlook.

Perhaps Rajoy could take some comfort from the presence of Jose Maria Aznar, a former conservative premier, who was among those congratulating him on his win.

Angry voters punished the outgoing Socialists for a crisis that has pushed the jobless rate in Spain to more than 20 per cent, the highest in the EU. But they know reforms to come could make things worse before they get better, initially, at least, increasing unemployment.

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