Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

Should men also be 'liberated from oppressive beachwear'?

Read more

EYE ON AFRICA

Kenyan Government disbands National Olympic Committee over mismanagement

Read more

THE DEBATE

France's Burkini Ban: Identity politics go to the beach (part 1)

Read more

THE DEBATE

France's Burkini Ban: Identity politics go to the beach (part 2)

Read more

FOCUS

Chancellor Merkel's immigration policy faces test on her home turf

Read more

FRENCH CONNECTIONS

Understanding the burkini ban

Read more

BUSINESS DAILY

US Treasury lashes out at EU tax probes

Read more

INSIDE THE AMERICAS

Olympic Hangover: festive mood dampened by gloomy economy

Read more

IN THE PAPERS

British professor says 'no shame' in reading romance novels

Read more

Europe

Government approves tough austerity plan

Text by News Wires

Latest update : 2010-05-20

A 15-billion-euro austerity plan, announced by Spanish Prime Minister Jose Luis Rodriguez Zapatero last week, was approved at a cabinet meeting Thursday as thousands of public sector workers took to the streets to protest against the measures.

AFP - The Spanish government late Thursday approved a 15-billion-euro austerity plan aimed at reining in the public deficit and easing fears of a Greek-style debt crisis.

The plan was approved at a cabinet meeting as thousands of public sector workers took to the streets to protest the measures, which include a five percent pay cut for civil servants.

Deputy Prime Minister Maria Teresa Fernandez De la Vega told a news conference the belt-tightening plan is aimed at "speeding up the process" of reducing the deficit, which reached a massive 11.2 percent of gross domestic product last year.

Socialist Prime Minister Jose Luis Rodriguez Zapatero announced the austerity measures last week.

 

Date created : 2010-05-20

  • SPAIN

    Spanish unions to battle pay cuts for public sector workers

    Read more

  • SPAIN

    Zapatero unveils fresh budget cuts

    Read more

  • FINANCIAL CRISIS

    Spanish stocks slump after S&P credit downgrade

    Read more

COMMENT(S)