Spanish premier Mariano Rajoy has raised VAT sharply in a humiliating volte-face and pushed through €65bn (£51bn) of drastic austerity measures to comply with a European Union ultimatum, risking a downward spiral into full depression.
Source: http://telegraph.feedsportal.com/c/32726/f/579300/s/2140727e/l/0L0Stelegraph0O0Cfinance0Cfinancialcrisis0C93938180CDebt0Ecrisis0ESpain0Ebows0Eto0EEU0Eultimatum0Ewith0Edrastic0Ecuts0Bhtml/story01.htm
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