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Spain due to implement tough austerity measures

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Spain due to implement tough austerity measures

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Spain is determined to implement its tough austerity package “whatever the cost” according to Prime Minister Jose Luis Rodriguez Zapatero.

The country looks set to slash its public deficit to the EU guideline of 3 percent by 2013.

To do so will include introducing a 50 billion euro austerity plan, which will include a hiring freeze in the public sector of 4 per cent.