austerity (Photo credit: 401K)

This is an insightful article from Reuters about how Portugal is taking the tough austerity medicine, unlike its neighbour Spain which seems to be trying to get refinancing without the full weight of international austerity strings attached.

Insight: Portugal toughs it out as austerity bites | Reuters.

I think that the Spanish Government still needs to tackle the bloated Spanish Public Sector and the inefficient regional Governments. Spain still seems to be in denial, in my opinion.