Economy: Spain's $14 bn rescue package

Spanish Prime Minister Jose Luis Rodriguez Zapatero has announced the approval of 11 billion euros (14 billion U.S. dollars) for programs to combat the current financial crisis. 80 percent of the money will be used in public investment.

A total of 300,000 jobs will be created through 2009, and the auto industry will get a financed integral plan of 800 million euros (about 1 billion dollars) to avoid job losses, he said.

Money will also be spent on environmental and tourism programs.

Published by Mike Hitchen, Mike Hitchen Consulting
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