Spain’s new austerity measures

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As part of the austerity measures Spain increased Value Added Tax by a whooping three percent and cut down civil service payments and benefits for the unemployed population. According to the speech the Prim Minister made in front of the parliament, France is currently spending more than it makes, tens of billions of euros more.

Although pensions are currently intact who’s to say these won’t be cut soon. Spain is in a delicate situation. Experts say that this tough measures were necessary but the population does not agree. Protests are being held all over Spain and people feel the rough conditions of Austerity.

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