Six days have passed since the news broke that economic growth, the national debt and unemployment would worsen in the second half of the year. And Spain has to make even more cutback efforts in their regional governments.
With all this information in mind, the director of the International Monetary Fund (IMF) has praised the Spanish government for the cutbacks it has made so far. A subtle nod from his managing director, Christine Lagarde, could be interpreted in another way. In the hypothetical case that Spain finally chooses to ask for a bailout, it won't be required to carry out many more cutbacks up until the bailout. Prime Minister Rajoy doesn't even want to hear about this option, but it shouldn't be ruled out if the monetary authorities don't make an immediate decision.
