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Mariano Rajoy, the centre-right politician who will likely be Spain’s next Prime Minister, has laid out his plan to restore Spain’s economy, Reuters reports.Rajoy calls it an economic “shock plan”, and it involves as much austerity as Spain can take.
Strict spending and debt caps will be set for Spain’s regions, and Spain’s labour laws will be reformed if his “Popular Party” wins as polls are suggesting.
Spain’s complicated labour laws have been seen by many as a hindrance to hiring, and Spain currently has the highest unemployment rate in Europe at over 20 per cent.
According to Reuters, one party leader said that, “the measures will be tough and we will have trouble with a lot of people, but people will have to understand that we lived beyond our means. Spaniards will understand.”
Spain’s indignados, the disaffected youth who have been protesting en masse in Spain against spending cuts, will not affect Rajoy’s austerity plans.
His party said that while they understand why people are upset, “most people want more austerity.”
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