Tuesday, May 22, 2012

Spain: "Last Nail In Eurozone-Coffin"



Eurozone finance ministers have agreed to boost the EU's rescue fund to 800 billion euros, to help countries like Spain recover from their crippling debt woes. Spain's financial crisis has prompted the government to announce its biggest austerity measures in over three decades. The country's vowed to cut 27 billion euros from its budget this year. It comes after tens of thousands of protesters hit the streets on Thursday, to fight against labor reforms.

Michael Mross, economic analyst says that while the country struggles to rise out of its debt crisis, it will never be able to implement the new cuts.

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