Spain austerity plan approved by one vote

Author (Person)
Series Title
Series Details 28.5.10
Publication Date 28/05/2010
Content Type

The Spanish parliament approved on the 27 May 2010 the country’s latest emergency austerity plan by the narrowest of margins – a single vote – after a debate in which rightwing, leftwing and regional parties all attacked the Socialist government’s handling of the crisis.

The aim is to reassure debt markets and help restore confidence in the eurozone by reducing the budget deficit from 11.2% of gross domestic product to 9.3&% in 2010 and 6% in 2011.

Related Links
ESO: Background information: IMF urges further Spanish reforms http://www.europeansources.info/record/imf-urges-further-spanish-reforms/
BBC News, 27.5.10: Spanish politicians approve 15bn-euro austerity plan http://news.bbc.co.uk/1/hi/business/10172644.stm
Deutsche Welle, 27.5.10: Spain passes austerity measures by razor-thin margin http://www.dw-world.de/dw/article/0,,5623835,00.html

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