Spain has launched an 11bn euro (£9.2bn) plan aimed at boosting the economy and creating 300,000 jobs. The plan, which represents 1.1% of the Spain's Gross Domestic Product (GDP), is part of the European Union's 200bn euro stimulus announced on Wednesday. The money will be mainly invested in infrastructure and public works, Spain's prime minister Jorge Luis Rodriguez Zapatero said. Spain's unemployment reached 11.3% in September - an EU record. Construction crisis The Spanish government said it would invest 0.8bn euros in the ailing car industry, which has been through a severe downturn and seen sales plummet 54.6% since the beginning of the year.
Spain has launched an 11bn euro (£9.2bn) plan aimed at boosting the economy and creating 300,000 jobs.
The plan, which represents 1.1% of the Spain's Gross Domestic Product (GDP), is part of the European Union's 200bn euro stimulus announced on Wednesday.
The money will be mainly invested in infrastructure and public works, Spain's prime minister Jorge Luis Rodriguez Zapatero said.
Spain's unemployment reached 11.3% in September - an EU record.
Construction crisis
The Spanish government said it would invest 0.8bn euros in the ailing car industry, which has been through a severe downturn and seen sales plummet 54.6% since the beginning of the year.
Reported 2 hours before the end of debate (20:10 GMT) in congress:
11bn euro (£9.2bn) plan 1.1% of the Spain's Jorge Luis Rodriguez Zapatero 0.8bn euros
No € sign on their keyboards No grammar necessary Jorge, who? Well they got 3 of 4 right... ´0.8bn euros´, must be.... ummm.... ´0.0008 tn euros´?
The auto industry rescue stinks, but it´s a necessary compromise since they are foreign companies that have been planning and threatening lay-offs for months, even though the plants are profitable. Thanks, Nissan, GM-Opel, et al. The auto industry covers 300K jobs and it´s too late to divert any without a huge blowback for people and unions. Our knowledge has surpassed our wisdom. -Charu Saxena.
