Spain Royals Take Pay Cut

Things are tough all over in Spain, and now even the royals are taking a hit. King Juan Carlos' salary is being shaved 7.1%, down to $332,000. His son, Prince Felipe, also faces a 7% cut, to $161,000. In addition, the $10 million royal budget will be cut by $123,000. The snips follow an uproar over news that public sector Christmas bonuses are being eliminated as part of Spain's austerity measures. The bonuses amount to about 7% of wages for all public workers, including police and firefighters.

Workers have taken to the streets to protest their own cuts, and are unimpressed with the royals' new "hardship." The king was sharply criticized earlier this year when he took a lavish hunting vacation in Botswana while his subjects were dealing with a 25% unemployment rate, notes the BBC. (More Spain stories.)