ZAPATERO HAS NEW AUSTERITY PLAN FOR 2011
Spanish Prime Minister Jose Luis Rodriguez Zapatero has announced a new austerity plan for 2011. “Our objective is to reduce debt by 6% in 2011 and reduce it by a further 3% in 2013 and this plan will be respected,” said the Prime Minister. In 2009 Spain’s deficit was 11.2%. “To achieve this objective,” added Zapatero, “the 2011 budget will have to be restrictive and austere.” In May the government approved austerity measures for 15 billion euros that include a 5% reduction of state employees’ salaries.