Spain opts for more austerity in 2012

Spain’s new government has said the public deficit for 2011 will be 8% of GDP, well above its target of 6%, and has announced increases in income and property tax along with a wage freeze for civil servants to tackle it.  Looks like a very tough year ahead for the Spaniards, one of several in the last few years,as illustrated in this timeline.

This Reuters video provides more background information on the proposed austerity measures;

Unit 4 Macro: Spanish unemployed head to Argentina [29 Apr 2012]
Unit 4 Macro: Pain in Spain as Fiscal Austerity Bites [1 Apr 2012]
OCR F585 June 2011: A Brain Drain from Spain? [13 Apr 2011]
Focus on Spain [16 Mar 2011]
Unemployment in Germany and Spain [14 Feb 2011]
EU Economics: Is 2011 the year the euro will fall? [9 Jan 2011]
Economics Q&A: Why might Europe’s weaker economies struggle to grow in the next few years? [2 Jan 2011]
Pain in Spain - on the brink of depression [26 Sep 2009]
Olive Oil Producers Suffer from Falling Prices [16 Sep 2009]
Deflation in the European Economy [14 Aug 2009]
Pain in Spain [25 Apr 2009]
Spanish Economy - After the Fiesta [20 Feb 2009]

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