As part of the big austerity plan, Spain’s Prime Minister Mariano Rajoy announced the suspension of a special Christmas bonus to public workers and other senior officials. In addition, a few of the “moscosos”, or free days, will be cut off. These are the lighter sides of the public sector reforms: Rajoy also declared a cut of 30% in the number of councilors. Spain has a relatively high number of politicians in comparison with its population. Critics like to compare Germany and Spain in that manner: Spain has 300,000 more official political posts than Germany, even though Germany’s population is around 60% larger than Spain’s. Among other measures that stood out in Rajoy’s “tijeretazo” are the raise of  the mainVAT from 18% to 21%, and cutting of unemployment benefits. While Spain officially escaped an official bailout for the sovereign and the dreaded EU / ECB / IMF troika, severe austerity was probably agreed upon, in return for the direct aid that Spanish banks will receive. Further reading:  Downgrades? Spanish Banks Should All Have a Perfect AAA Rating Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam Forex Bits share Read Next EUR/USD July 12 Struggles as Markets Disappointed over Fed Kenny Fisher 10 years As part of the big austerity plan, Spain's Prime Minister Mariano Rajoy announced the suspension of a special Christmas bonus to public workers and other senior officials. In addition, a few of the "moscosos", or free days, will be cut off. These are the lighter sides of the public sector reforms: Rajoy also declared a cut of 30% in the number of councilors. Spain has a relatively high number of politicians in comparison with its population. Critics like to compare Germany and Spain in that manner: Spain has 300,000 more official political posts than Germany, even though Germany's population is… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.