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There Will Be a Wider Political Backlash against Austerity in Europe: Expert

Thursday, 3 May 2012 | 1:50 AM ET

Michael Gallagher, director of research, IDEAglobal, told CNBC, "The big problem with Spain is that the government doesn't actually have the buy in that exists in Portugal and Ireland amongst the domestic population, the population don't like the austerity medicine that they are having to swallow."