Spain Approves New Austerity Measures, Limited Stimulus
The Spanish government approved new austerity measures and a limited economic stimulus package to ease investor fears about its debt – and insisted again it was taking strong steps to right its ailing economy.
Markets responded positively to Friday's actions after weeks of turmoil, but the country was thrown into chaos again after air traffic controllers unexpectedly staged a massive sickout just hours after top government officials endorsed a move to partially privatize key airports.
At least 200,000 travelers were stranded on the eve of a long holiday weekend. Prime Minister Jose Luis Rodriguez Zapatero ordered the military to take over air traffic control, but there was no immediate information when flights would resume.
Link:
http://www.huffingtonpost.com/2010/12/03/spain-approves-new-austerity-measures_n_791964.html
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