Spain union leader rules out general strike on cuts

MADRID, May 13 (BestGrowthStock) – The leader of Spain’s largest
union ruled out on Thursday a general strike before meeting the
prime minister to discuss public wage cuts as part of a package
to cut its deficit back to EU guidelines and appease markets.

Unions mooted demonstrations on Tuesday after Prime Minister
Jose Luis Rodriquez Zapatero told parliament the government
planned to cut civil service wages by 5 percent this year and
freeze them in 2011.

“It (a general strike) is the last thing this country needs
at a time like this,” Ignacio Fernandez Toxo, the general
secretary of Comisiones Obreras, told private broadcaster Punto
Radio.

“Decisions that serious, in case they are taken, need to be
carefully thought over,” Toxo added.

Representatives from several unions were due to meet
Zapatero at 1130 GMT.

Toxo said he would wait until the cabinet gave more details
of the cuts at a weekly meeting on Friday.

“People may take account of the fact that proposals could
have another outcome,” he said.

The Madrid bourse was meanwhile down 1.8 percent (.IBEX: )
amid market concern over possible delays by the government in
applying the proposed austerity measures.

“Zapatero’s unveiling measures was fine, but the actual
situation in pain is still difficult and foreign investors don’t
want to know about us, and hedge funds are very active,” a
trader said.

“What the market demands is that these measures take effect
forthwith,” she added.

For a factbox on Spain’s public sector workforce, click on
[ID:nLDE64C0JS]

For Spanish media comment on government austerity measures,
click on [ID:nLDE64C0H5]

Stock Market News
(Reporting by Clara Vilar and Jesus Aguado; Writing by Martin
Roberts)

Spain union leader rules out general strike on cuts