It's going to try and meet too many objectives all at the same time, serve too many masters, and end up not serving any of them.

Sony Kapoor, managing director of the think-tank Re-Define, ahead of the Spanish government outlining its austerity budget for 2013 later today. The government is expected to outline 39bn euros worth of savings, tax rises and structural reforms. With 25 per cent of the country currently out of work, further protests are expected this week, and the results of a stress test of the country’s banks is due on Friday.