No further austerity for Spain, says Rehn – FT.com


Greece, Ireland, Spain no further austerity
except Portugal…

Very strange…

 

Significantly, Mr Rehn’s approval means Madrid will not have to make additional cuts to its pension system, a political red line that Mr Rajoy had drawn but that many in his inner circle feared would be on the Brussels chopping block. Madrid did not immediately respond to the decision.

Spain was supposed to reduce its deficit to 6.3 per cent of GDP this year and 4.5 per cent next year. Despite the insistence of Luis de Guindos, finance minister, this week that those targets would be met, recent EU projections predict an 8 per cent deficit this year and 6 per cent in 2013.

No further austerity for Spain, says Rehn – FT.com

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