The austerity news is coming thick and fast. Barely two week after the Reinhart/Rogoff paper was discredited, politicians have been making noises that the end of austerity is near. Now the FT has reported that Spain will be the first government to announce an easing of the measures currently in place.
In an article that follows the pattern of many other announcements by Rajoy, the idea is 'mooted' by government sources before the official announcement to test the water.
The article says plans will be unveiled to reform to the pensions system, labour market, service sector and fiscal management.
Of particular interest are measures the liberalise the protected professions of which Spain has 174 that have barriers to entry due to specialist entry qualifications. These professions are backed by powerful lobby groups and it will be a battle to get such measures through.
I'll blog more on Friday when the official anouncement comes out but this sounds like the first good news for Spain in a very long time.
http://www.ft.com/intl/cms/s/0/f539b874-ac31-11e2-a063-00144feabdc0.html#axzz2REgA3Zr7