PressTV
Sat Jul 28, 2012 3:48AM GMT
Spanish protesters shouting slogans, condemning the recent austerity measures announced by the government on July 13, 2012 in Madrid.
The International Monetary Fund (IMF) has said that the Spanish recession would be worse than initially estimated as the country’s economy will contract 1.7 percent in 2012 and 1.2 percent in 2013.
The IMF also said on Friday that increasing market tension could upset Spain's ability to finance itself, despite a eurozone bailout agreed for Spanish banks and other financial reforms for the country.
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