David Gardner writes an extensive article on the Irish situation in the FT Analysis slot today.
Author: Philip Lane
The WSJ reports that the new Spanish government may soon set up an asset management agency (SAMA?) to buy out the distressed property loans of its banking system.
Question for the readership: is this advisable?
The budget documents are here.
One of the documents released today explains the reform of the budgetary process, including a greater role for Oireachtas Committees, a year-round budget calendar and multi-year expenditure envelopes. The aim is to ‘outdo’ what is required along these dimensions under the new European-level fiscal governance directive.
The public spending plan is here.