Spanish News|The Economy
The IMF and the EU have given their full support to the Spanish government over the economic measures that they have had to take recently.However the opposition Partido Popular has not been as enthusiastic in its reception of the measures taken.
The new law was passed by 168 votes for and 8 against with the PP and other opposition parties abstaining.They might have taken the government down if they had voted and they chose not to do that.
Spain has moved closer to acquiring some credibility in the world market.As well as labour reform they have also had a go at reforming the banking sector and adopted measures to slow down the soaring budget deficit as debt markets punished its sovereign bonds over concerns that the country might need a Greek -style bailout.
The PP say that the changes to the labour laws are not enough.This law includes measures to cut the cost of removing an employee,which in Spain is one of the highest in the developed world.They want to promote youth employment and simplify contracts.One in five youths are without a job at the moment.
Unions are against the law and have called for a general strike on September 29 when there will also be a broader European protest.