KTEP - El Paso, Texas

Spain To Slash Another $50 Billion From 2013 Budget

Sep 27, 2012
Originally published on September 27, 2012 3:50 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.