EUR/USD lifted to 1.2660 at writing.
Also:
- To cut civil service salaries 5% in 2010, freeze in 2011
- Regional governments to cut 1.2 bln euros
- To eliminate birth payments of 2.5 bln euros
- To cut index-linked pension rise in 2011
- Cuts to save additional 15 bln euros in 2010, 2011
- Spanish cabinet to vote on cuts and 2011 budget spending on Friday