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It's A 'Victory,' Not A Bailout, Spain's Leader SaysBut most Spaniards don't buy that. With its banks ailing, the country becomes the fourth eurozone member to get a financial rescue. But there are still plenty of skeptics who question whether it will work.
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As Spaniards grapple with severe austerity measures and record unemployment, their king is dealing with a different kind of pain. Public outrage is running high over an elephant hunt in Africa that King Juan Carlos took recently. It cost nearly $60,000 — more than twice the average salary in Spain.
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Spain's borrowing costs have risen sharply, renewing fears that Europe's fourth-largest economy could be headed for a major crisis. The country has slashed billions in spending, but unemployment and debt are still rising. Many are wondering whether the austerity could be doing more harm than good.
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A high school in Valencia, Spain, has become a flash point for Spaniards' anger over austerity measures. Police recently skirmished with protesters opposed to spending cuts that have left students packed 50 to a classroom.