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Europe Daily Bulletin No. 10651

10 July 2012
ECONOMY - FINANCE - BUSINESS / (ae) spain
Spain will be given until 2014 to get its deficit back below 3%

Brussels, 09/07/2012 (Agence Europe) - Sources suggest that eurozone finance ministers were preparing on Monday 9 July 2012 to allow Spain to have until 2014 (rather than 2013) to bring its public deficit to below 3% of GDP, a decision expected to be approved at the ECOFIN Council of Tuesday 10 July. EU heads of state had already agreed to let Spain reduce its budget deficit to 5.3% this year, rather than the initially planned 4.4%, to give the country a breathing space. Spain's budget...

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