The hammer is dropping in Spain. MADRID — Spain announced a 65 billion euro ($79.85 billion) austerity package that includes tax hikes and spending cuts on Wednesday, a day after it won approval from its euro partners for a huge bailout of the country’s stricken banks. Prime Minister Mariano Rajoy told parliament the country’s future was at stake as Spain grapples with recession, a bloated deficit and investor wariness of its sovereign debt. He said the nearly $80 billion in savings will be achieved through 2015 by a hike in sales taxes and a series of spending cuts through 2015. … Continue reading The Pain In Spain Is Mainly In The Checkout Lane