Global Economy

Spain’s Government Creates Huge Budget Cuts

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In order to assure the European Union that it will not need a financial bailout, Spain has declared a $36 billion budget cut.  This budget hits hard to the people of Spain and causes drastic changes in countless lives.  These cuts come directly from freezing civil servant wages and salaries, as well as ministerial spending cuts and new corporate taxes.  This announcement was released on Friday by Soraya Saenz de Santamaria, the country’s deputy prime minister.

Read it at Aljazeera

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