The Spanish government continues to take further measures in an attempt to calm markets and assure investors that it can contain its debt problems.

The government today will raise the retirement age after a 20 billion euro plan to shore savings banks failed to calm jittery markets.

Under the bill that Spanish workers objected, Prime Minister Jose Luis Rodriguez Zapatero's Socialist government will approve the bill under which the retirement age will be raised to 67 from 65. The government, unions and employers have reached an agreement after late-night talks over the pension bull and changes to wave-bargaining rules.