Bill Mitchell — Spain in limbo but has not rejected austerity

Summary of the fault lines built into the structure of the EZ. The only practical way to reject austerity is either to change the rules, or for countries to exit the zone and return to issuing their own currencies.

So when a political party claims to be anti-austerity but then supports the nation remaining within the monetary union with all the pernicious and unworkable rules that go with that, then we know the political leaders are lying and trying to pretend to be progressive rather than neo-liberal (lite or otherwise).