The Spanish socialist candidate for the next general elections, Alredo Pérez Rubalcaba, has distanced himself from a party line that he defended as a member of the Consejo de Ministros de Zapatero. He admitted at last that Spanish financial reforms are tarrying too much.
Surprisingly, he belonged to a federal government that delayed reforms and endorsed its position in various demonstrations and statements. His most recent position on this matter is the right one, as we have already pointed out in this newspaper. Foibles in the community banks (known as cajas in Spanish), policy reform and the need for the government to bail out financial institutions also support it.
It is patently clear that Fernández Ordoñez, Salgado and Zapatero were all negligent in regard to financial reform.
