TIGHTENING THE BELT: Spain’s government imposed more austerity measures Wednesday as it unveiled sales tax hikes and spending cuts aimed at shaving €65 billion ($79.85 billion) off the state budget over the next two and a half years.

THE BACKGROUND: The move came a day after winning European Union approval for a huge bank bailout and breathing space on its deficit program. It also came as thousands of miners stung by a huge cut in government subsidies demonstrated outside the Industry Ministry in Madrid.

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