Spain braced for further austerity as Madrid prepares for bailout

Budget and reform programme to be unveiled on Thursday to feature more spending cuts, tax increases and pension freezesRecession-hit Spaniards will this week be told to swallow yet more austerity as the government prepares a fresh round of reforms and another budget filled with spending cuts and tax increases that will allow it to seek a bailout from eurozone partners.Pension freezes are also expected to form part of a raft measures to prepare the way for the European Central Bank (ECB) to give ...