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Wednesday, June 30, 2010

"Slashing" wages 5%.....Coming to America?

MADRID (Reuters) - A strike by Metro workers snarled traffic for the third day in Madrid on Wednesday and unions said the protest against austerity measures aimed at getting Spain's deficit under control could become indefinite.

Workers were due to vote later in the morning on extending the three-day stoppage, that has affected 2 million commuters and had far more impact than a nationwide civil servants' strike called earlier this month.
Unions are angry over public sector pay cuts designed to help cut Spain's budget deficit, which ballooned to 11.2 percent last year from a pre-crisis surplus.
Spain's Socialist government aims to save 15 billion euros ($18.3 billion) by, amongst other moves, slashing civil servants' pay by an average of 5 percent.

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