Excerpt from: European Markets
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| June 08, 2010 | | Spread bets and CFDs on European markets | In Spain, civil servants are on strike to protest pay cuts adopted as part of austerity measures meant to help relieve the debt crisis in the country. In addition to cutting pay for civil servants, the Spanish government is freezing pension payments and cutting pay to government ministers.
All of this is aimed at helping Spain out of its debt problems. The country is one of several European Union states heading for fiscal disaster. The news about Spain came just as an agreement was being hammered out regarding Greece.
Also in trouble are Italy and Portugal, and Hungary announced last week that it may have budget problems. So far, though, the euro zone has managed to hold together, and European leaders are still treating this situation as a mostly euro zone issue.
| Topic Tags: austerity, CFDs, European markets, euro zone, Greece, Spain, spread bets, spread betting | |
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