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Europe
Spain prepares budget cuts
Concerns for Spanish economy after credit rating cut and Greek debt crisis.
Last Modified: 30 Apr 2010 06:34 GMT

Fears of financial contagion from the Greek debt crisis have caused concern in Spain, which had its own credit rating downgraded on Thursday.

The Spanish government says it's preparing a budget plan, but with unemployment already high, further austerity measures are bound to hurt.

Al Jazeera Nazanine Moshiri reports from the capital, Madrid.

Source:
Al Jazeera
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