Spain prepares budget cuts

Concerns for Spanish economy after credit rating cut and Greek debt crisis.

    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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