On the budget cuts in Spain

Yesterday, Spain announced an unprecedent tax cut of £22bn in order to meet the deficit target imposed by the UE. I have been asked by the BBC to comment on the current economic situation in Spain and its prospects. On Thursday I appeared on BBC News Channel and this morning on BBC5 radio. I will try to post the video of the former, but in the meantime you can listen to my mumblings (too early for a Satuday morning) about 1h14m. Just follow this link. It will be available for a week.