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King's Ransom - Spain's Juan Carlos takes a pay cut

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King's Ransom - Spain's Juan Carlos takes a pay cut

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Spain’s King Juan Carlos has volunteered for a 7.1 per cent pay cut – the same cut that has been imposed on civil servants throughout the cash-strapped country through the axing of their Christmas bonuses.

Other members of the Royal family will also receive less, for a total saving of around 100,000 euros per year.