Spain faces crunch today on austerity budget

Squeezed by financial markets and denounced in the streets, Spain's government is due today to adopt an austerity budget which could be a precursor to a full bailout.

The final step before a rescue is likely to come tomorrow, analysts say, when Madrid unveils an independent audit of its limping banks to determine how much capital they need.

via Business feed http://www.scmp.com/business/economy/article/1048082/spain-faces-crunch-today-austerity-budget