‘This is reality’: Spain slashes spending, raises taxes in $79B austerity plan


MADRID -- Spain announced a 65 billion euro ($  79.85 billion) austerity package that includes tax hikes and spending cuts on Wednesday, a day after it won approval from its euro partners for a huge bailout of the country's stricken banks.MADRID — Spain announced a 65 billion euro ($ 79.85 billion) austerity package that includes tax hikes and spending cuts on Wednesday, a day after it won approval from its euro partners for a huge bailout of the country’s stricken banks.



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