Amid the backlash of violence in Madrid as the Asturian miners march, PM Rajoy ups austerity measures on an economy already in a massive downward spiral.
“We are living in a crucial moment that will determine the future of our families, our youth, our social welfare and all our hopes,” Mr Rajoy said. “That is the reality. We have to get out of this mess and we have to do it as soon as possible.”
The announcement of a further Eur 65 bln of austerity cuts is part of the conditions attached to the Eurozone loans for the Spanish banks bailout.
More…..Jeremy Warner’s take on the situation in today’s Telegraph