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Spain’s economic rescue squad takes power

AFP Thursday, 22 Dec 2011 11:07 pm | Comments

MADRID - Spain swore in a new conservative government Thursday, hailed as an economic rescue squad to roll out urgent reforms. Prime Minister Mariano Rajoy named 13 loyal disciples to his cabinet, with a former executive of the ruined US bank Lehman Brothers, Luis de Guindos, in the key post of economy minister.
The 13 swore loyalty to King Juan Carlos in a televised ceremony at his Zarzuela palace on Thursday morning and were then due to disperse to their new ministries. De Guindos and the other ministers, with notable backgrounds in economic and European affairs, must spearhead efforts to get five million unemployed back to work and reassure investors that Spain is not a weak link in the eurozone.
The government team Mariano Rajoy has chosen is consistent with Spain's urgent needs: employment and the need to generate international confidence in the midst of this dramatic panorama.

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