The new Spanish government of Mariano Rajoy approves a €8.9B austerity package of tax hikes,...

|By:, SA News Editor

The new Spanish government of Mariano Rajoy approves a €8.9B austerity package of tax hikes, spending cuts, and wage and pension freezes. Also announced is the 2011 deficit, coming in at 8% of GDP against expectations of 6%.