Spain imposes more austerity amid protests

by Blogburger on July 11, 2012

MADRID (AP) — Spain’s government imposed more austerity measures on the beleaguered country Wednesday as it unveiled sales tax hikes and spending cuts aimed at shaving €65 billion ($ 79.85 billion) off the state budget over the next two and a half years. A day after winning European Union approval for a huge bank bailout and breathing space on its deficit program, Prime Minister Mariano Rajoy warned Parliament that Spain’s future was at stake as it grapples with recession, a bloated deficit and investor wariness of its sovereign debt. “We are living in a crucial moment which will determine our future and that of our families, that of our youths, of our welfare state,” Rajoy said to catcalls…


WN.com – International English News

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