The Coming Crisis: Europe Demands More Cuts and Tax Increase to Spain

The Coming Crisis Welcome to Humanity's    ...Final Performance...

Europe Demands More Cuts and Tax Increase to Spain Mar 6th 2013, 05:20 The European Union (EU) demanded Spain today to implement new austerity measures in the areas of pensions, labor market and taxes to decrease public deficit. Five days after the conservative government headed by Mariano Rajoy ruled out the option of implementing more social cuts, the European Commission considered Madrid has still a margin for increasing again the value added tax (VAT). In its report on the second review of the aid program granted to the Spanish bank, Brussels warned it will be hard for this nation to reach the 2.8 percent deficit objective of the GDP in 2014. http://www.plenglish.com/index.php?option=com_content&task=view&id=1173521&Itemid=1

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