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A fiscal concession by Mr. Rajoy could go a long way toward deflating the Catalan independence drive.
Whatever the outcome of Sunday's vote, any subsequent fiscal concession by Mr. Rajoy could go a long way toward deflating the Catalan drive for independence.
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In this capacity he won major fiscal concessions from the federal government.
In particular, there are questions over whether sovereignty demands should be limited to seeking fiscal concessions from Madrid or stretch far beyond that.
Last month, Artur Mas, the Catalan leader, called an early regional election for Nov. 25 after failing to persuade Mr. Rajoy to negotiate fiscal concessions for Catalonia.
That could involve big fiscal concessions to the provinces, and a return to the federal deficits ended by Mr Martin when finance minister.
Furthermore, tensions between Catalonia and Madrid could intensify because Mr. Rajoy may be less inclined to offer a weakened Mr. Mas the kind of fiscal concessions that would have helped defuse the separatist challenge.
Australia is on the precipice of a hearty debate about fiscal concessions on housing – land tax, capital gains tax and negative gearing – but it is important to remember the low income consumers of that housing as the debate develops.
In the interim, some Republicans would like to use the borrowing cap to extract fiscal concessions from the president, either in the form of spending cuts or tax cuts.
Republicans have tried several times to use the debt ceiling — the limit on the Treasury's authority to borrow — as leverage to force fiscal concessions from President Obama, even though refusal to raise the limit could lead to a default on the federal debt and disastrous consequences for the economy.
Though financial concessions were made to the Basque region, our repeated requests for a new fiscal pact with Madrid to mitigate the current unjust system are constantly denied.
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