Europe awaits fine print of Spanish austerity plan

European Union institutions are awaiting the fine print of Spain's plans for additional austerity measures first announced on Sunday (9 May), amid concern that Madrid's package may not be sufficient to calm markets and avoid a Greek-type scenario.

Both Spain and Portugal were specifically mentioned in the language of a new EU measure on Sunday establishing a "shock-and-awe" bail-out package for eurozone economies whose ability to raise funds on the money markets is dwindling.\n \nEurope...