Podemos Seeks to Restructure Public Sector Debt

Pablo Iglesias, the leader of Spanish anti-austerity party Podemos, pledged to restructure the nation’s debt if he can convert his opinion-poll lead into election victory, following the example of his ally, Greek Prime Minister Alexis Tsipras.

European officials need to take heed of Nobel laureates who say that Spain needs to reduce its debt before it can properly revive the economy, Iglesias said. While he didn’t say whom he was referring to, prize-winning economists Joseph Stiglitz and Paul Krugman have both attacked Europe’s austerity policies.