Europe
3:44 pm
Thu September 27, 2012

Spain To Slash Another $50 Billion From 2013 Budget

Originally published on Thu September 27, 2012 4:50 pm

Spain is slashing another $50 billion from its budget — scrapping early retirement programs, hiking taxes and sparking public outrage in the streets. Madrid is struggling to avoid a second, larger European Union bailout, beyond what it's already getting for its banks. But markets have plummeted, dragged down by investors' doubts about whether Spain can go it alone.