There's a nice article of economist I. Esnaola at Gara today, illustrating how the "rescue plan" of the IMF-EU tandem is a recipe for disaster. It is exactly the same "medicine" Latvia got in 2008 and things have only got worse for them since then: growing unemployment (even higher than Spain!), "growth" of -18% in a single year, and all without being able to stop public deficit from running wild at all.
That's exactly what they want to impose to Greece, just that the Greek people seem much less sheeply than Latvians and may just send IMF, EU and everything of the like to the trash bin in the process.
Spain does not seem to need an IMF package: it is already applying one: on its own will nearly all state income is reliant on a growing VAT (consume tax, now to be raised to 18%) and from tobbacco, alcohol and gasoline special taxes. Meanwhile the wealthy enjoy the best deals, what makes Spain unable to collect enough money for its expenses.
Instead, the only conservative government of the three South European countries, that of Portugal, has decided to tackle the tax crisis by raising taxes to the wealthy segment, up to 45%. It's clear that they are the only ones who know how to deal with the budget crisis: redistributing and not just loading the scales against the working class even more.