Don't miss

Replay


LATEST SHOWS

EYE ON AFRICA

Tanzanian President dismisses almost 10,000 public servants over forged college certificates

Read more

MEDIAWATCH

French Election: Abstention, Anger & Apathy

Read more

THE WORLD THIS WEEK

Macron vs. Le Pen: France's bitter presidential run-off race (part 1)

Read more

REPORTERS

The booming business of cannabis in Spain

Read more

THE WORLD THIS WEEK

Trump's First 100 Days, The Pope in Egypt (part 2)

Read more

FOCUS

Egypt's Coptic Christians targeted by Islamic State group

Read more

THE CAMPAIGN BEAT

France's wartime past takes centre stage in presidential campaign

Read more

#TECH 24

How one NGO is using 3D printers to improve disaster relief

Read more

REVISITED

What remains of Nicaragua’s revolution?

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)