Unions representing nearly three million Spanish workers called for country-wide strikes today as the government implements a series of cost-cutting measures to reduce a growing national debt. In January, the government announced 50 billion euros (US$60 billion) in spending cuts, with a further 15 billion euros reduction (US$18 billion dollars) last week.
The plan, to be phased in over two years, includes a freeze on public salaries, the suspension of automatic inflation-adjustments for old age pensions, and the elimination of 2,500-euro tax break for couples that have a new baby.
Source: AFP News
