Spain to Impose 39 Billion Euros Austerity Package
Spain is due to set out its austerity budget for 2013 later, against a backdrop of a deteriorating economy and 25% unemployment rate.
Madrid is expected to outline 39bn euros ($50bn; £31bn) worth of savings, tax rises, and structural reforms.
It comes amid further protests this week, and growing expectations that Spain will seek a bailout from its eurozone partners.
On Friday, results of a stress test on Spain's banks are due to be released.
Meanwhile Castile La Mancha has become the fifth of Spain's 17 regional governments to say that it will draw on a rescue fund set up by Madrid.
The central Spanish region said it would request 848m euros from the 18bn-euro Regional Liquidity Fund, joining Valencia, Murcia and Catalonia, who have collectively requested 3bn euros, and Andalucia who has yet to specify how much it needs.
The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.