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Spanish Reforms Fall Short as Country Waits for Bailout Cash

From spiegel.de

Spain needs to make significant spending cuts and see a major boost in state revenues -- but its most recent reforms apparently fall short by some nine billion euros. As tensions rise, the country still awaits the approval of 100 billion euros in emergency aid. Spain is tinkering with a comprehensive reform package to help the deeply indebted country get itself out of a severe financial crisis. But its new belt-tightening measures will apparently only go so far -- bringing in almost €9 billion ($11 billion) less than what had been announced. But on Wednesday, Prime Minister Mariano Rajoy had held out the prospect ... (full story)

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