In June it was Greece. In August it was France, Italy, Spain and Portugal. In September it was Greece and, once again, Spain. In November, France again. Soon very likely Belgium. And perhaps France for a third time. In spite of an ever-darker economic outlook, every month countries under pressure in the bond markets are announcing new budget restrictions in the hope of limiting their deficits and halting the slippage in their borrowing terms. Only Germany stands out, announcing a tax cut, though a modest one.
Πηγή: Bruegel