facebook
twitter
search
search

Rajoy defends Spain's austerity plan

April 21, 2012 at 1:37 PM

MADRID, April 21 (UPI) -- Spanish Prime Minister Mariano Rajoy said massive spending cuts were necessary, as Spain had overspent in the past.

"It is necessary, imperative, because at this moment there is no money to pay for public services. ... There's no money because we have spent so much over the last few years. So we have to do this so that in the future we can get out of this situation," he said to reporters.

Spain has agreed to a spending reduction and tax increase plan meant to shrink the country's deficit by $13.2 billion, the EUobserver reported Saturday.

The austerity plan, which cuts into spending and raises fees for health and education services is prorated to exempt those who are unemployed and require less sacrifice from the poor than from the wealthy, Rajoy said.

Like Us on Facebook for more stories from UPI.com  
Related UPI Stories
Latest Headlines
Top Stories
Houston-based LINN leaves Texas shale
Australian troops to receive new rifle variant
Saab joining BAE Systems, Patria in bid to produce armored vehicle
Gas prices could go up, AAA says
Kurdish government in Iraq selling more oil