Spain in turmoil

The Spanish government is to unveil measures to lop spending and boost taxes to rake in 39 billion euros ($50 billion) in its new budget for 2013. Borrowing costs have crept back up to danger levels and the stock market plunged on Wednesday ahead of the announcement. The budget, to be followed by the release of an audit of Spain's sickly banking system on Friday, is seen on the markets as one of the final acts before a sovereign bailout.VIDEOGRAPHIC