AFP: Spain’s austerity leader Rajoy takes power

Spain swore in new conservative Prime Minister Mariano Rajoy on Wednesday, putting him at the helm to steer the country out of an economic crisis through tough spending cuts.

The bearded Galician, 56, took the oath of office a month after voters confronted by a worsening economy ousted the governing Socialists in an early election.

With more than five million people unemployed and warnings of a fresh recession looming, Rajoy has vowed to create jobs, clean up banks and reassure investors over the country’s finances by immediately passing budget reforms.

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