So called left governments in Greece and Spain are willingly obliging the IMF, European Central Banks and Bond Traders with draconian cuts.
Why did they get voted in?
Don’t they have the stomach to fight and demand the pain is shared by bond holders, especially French banks?
It is clear why Sarkozy banged the table to force Angela Merkel to back the rescue package for Greece (i.e. banks holding Greek government bonds).
Nothing too grand, after all.
Just protecting French bankers.