Spain - adopts austerity plan with almost nine billion euros of spending cuts

Published on Jan 11, 2012 by Euronews

http://www.euronews.net/ Spain's Parliament passed the new conservative government's first austerity measures.

They are aimed at reducing the country's massive deficit with almost nine billion euros of spending cuts as well as income and property tax increases.

The plan was approved by 197 deputies in the 350-seat lower house, where the ruling Popular Party has an absolute majority of 185 seats.