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dipsydoodle

(42,239 posts) Thu Sep 27, 2012, 06:10 AM Sep 2012

Spain budget imposes further austerity measures

Last edited Thu Sep 27, 2012, 12:45 PM - Edit history (1)

Source: BBC News

Spain is due to set out its austerity budget for 2013 later, against a backdrop of a deteriorating economy and 25% unemployment rate.

Madrid is expected to outline 39bn euros ($50bn; £31bn) worth of savings, tax rises, and structural reforms.

It comes amid further protests this week, and growing expectations that Spain will seek a bailout from its eurozone partners.

On Friday, results of a stress test on Spain's banks are due to be released.

Read more: http://www.bbc.co.uk/news/business-19733995

edit to reflect BBC's own change of headline

5 replies

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Spain budget imposes further austerity measures (Original Post) dipsydoodle Sep 2012 OP

Du rec. Nt xchrom Sep 2012 #1

Pay attention teabaggers. PA Democrat Sep 2012 #2

I live in Barcelona and to add insult to injury... ermasdaughter Sep 2012 #3

Not sure how it affects Catalonia dipsydoodle Sep 2012 #4

Spain's Deputy PM Saenz de Santamaria sets out urgent budget dipsydoodle Sep 2012 #5

xchrom

(108,903 posts)

1. Du rec. Nt

Reply to dipsydoodle (Original post)

Thu Sep 27, 2012, 06:19 AM

Sep 2012

PA Democrat

(13,225 posts)

2. Pay attention teabaggers.

Reply to dipsydoodle (Original post)

Thu Sep 27, 2012, 06:47 AM

Sep 2012

This is so sad. Unemployment is going to get worse in Spain.

ermasdaughter

(85 posts)

3. I live in Barcelona and to add insult to injury...

Reply to dipsydoodle (Original post)

Thu Sep 27, 2012, 07:20 AM

Sep 2012

Catalonia is rightly in a serious battle over taxes with the central government. The problem is, that it could not come at a worse time... The whole situation is heart-breaking....

dipsydoodle

(42,239 posts)

4. Not sure how it affects Catalonia

Reply to ermasdaughter (Reply #3)

Thu Sep 27, 2012, 07:57 AM

Sep 2012

but the regions in total owe 50 billion Euros in loans and bonds. I believe they relate mainly to the period leading up to the 2008 financial crash and were largely for the construction industries.

dipsydoodle

(42,239 posts)

5. Spain's Deputy PM Saenz de Santamaria sets out urgent budget

Reply to dipsydoodle (Original post)

Thu Sep 27, 2012, 11:51 AM

Sep 2012

Spain's Deputy Prime Minister Soraya Saenz de Santamaria holds a news conference to answer questions about the country's emergency budget measures.

Madrid had been expected to outline 39bn euros ($50bn; £31bn) worth of savings, tax rises, and structural reforms, amid further anti-austerity protests.

The country is expected to seek a eurozone bailout soon, against a backdrop of a deteriorating economy and a 25% unemployment rate.

http://www.bbc.co.uk/news/world-europe-19740677 includes video.

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