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Spain's Prime Minister Mariano Rajoy has announced a package of spending cuts and higher taxes that he says will save the country 80 billion dollars by the end of 2014. Unveiling the austerity plan to lawmakers today, the Prime Minister said the country is at a crucial moment and must end its budget crisis as soon as possible. The package includes cuts to civil service wages and unemployment benefits, as well as sales tax increases. In the capital, Madrid, the coal miners have protested the announcement saying big cuts in subsidies to mining companies will destroy their industry.

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