Monday, 24 September 2012 20:05

Spain braced for further austerity

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Recession-hit Spaniards will this week be told to swallow yet more austerity as the government prepares a fresh round of reforms and another budget filled with spending cuts and tax increases that will allow it to seek a bailout from eurozone partners.

Pension freezes are also expected to form part of a raft measures to prepare the way for the European Central Bank (ECB) to give Spainsupport to control borrowing costs that will eat up a large chunk of next year's budget.

Guardian UK article

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