Wednesday, May 12, 2010
Idle threats
BBC: Spain to unveil deep budget cuts amid EU economic fears
The Spanish government is set to detail deep cuts in public spending amid EU concerns that economic problems afflicting Greece may spread.
PM Jose Luis Rodriguez Zapatero is expected to outline the cuts on Wednesday, aimed at bringing down Spain's borrowing levels.
US President Barack Obama has urged Mr Zapatero to take "resolute action".
Spain approved an austerity package in January but that since then little has happened and Madrid is now under pressure from the European Commission to deliver, with new talk of penalties if it does not.
Posted by devo @ 06:49 AM (428 views) Add Comment
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