I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.- Thomas Jefferson.

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Wednesday, July 14, 2010

Spain 'relying on short-term funding' as councils go bust

A third of Spain's city councils are in dire straits and may be forced to suspend payments by the end of the year, replicating the woes in the US, where many states are bearing the brunt of fiscal tightening.

By Ambrose Evans-Pritchard, International Business Editor

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