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Euro exit beats begging bowl, says Spanish elder statesman
The regional leader of Asturias in Spain has become the country’s first major figure to call for a radical change of strategy and exit from the euro, unless monetary union is fundamentally reformed. Francisco Alvarez Cascos, the region’s president and former secretary-general of Spain’s ruling party, accused premier Mariano Rajoy of humiliating the nation by touring Europe with a “begging bowl”. The attack came as Spanish finance minister Luis de Guindos hopped from Berlin to Paris in a desperate attempt to drum up support as yields on Spanish two-year debt surged to a fresh record of 7pc. Mr de Guindos ... (full story)
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