Spain to sell State assets in bid to calm markets

Spain is to sell a 30% stake in its national lottery and partially privatise airports in Madrid and Barcelona to ease market worries about public finances.

Prime Minister Jose Luis Rodriguez Zapatero made the announcements in parliament today after the country suffered at the hands of investors who fear it may need a bailout like those received by Greece and Ireland.

The government will also stop paying €420 per month in February to people whose unemployment benefits have expired.

The government hopes the move will convince investors Spain is taking strong steps to stabilise the eurozone's fourth largest economy so it will not need outside help.