Arab Today, arab today eu hints at easing of budget targets for spain
Last Updated : GMT 22:04:34
Arab Today, arab today
Arab Today, arab today

EU hints at easing of budget targets for Spain

Arab Today, arab today

Arab Today, arab today EU hints at easing of budget targets for Spain

Madrid - AFP

Spain\'s austerity programme may be eased if the economy continues to contract, the European Union\'s top economic official said Monday. Economy commissioner Olli Rehn suggested that Spain could be given more slack to meet the strict budget targets set out by the block to save the eurozone\'s fourth economy from bankruptcy. \"We take into account the growth outlook and the fiscal space of each and every country when we make the assessment,\" Rehn told reporters, in reference to an evaluation of Spain\'s performance due next month. \"If there has been a serious deterioration in the economy, we can propose an extension of the country\'s adjustment path,\" he said. Spain\'s efforts to comply with austerity measures demanded by the EU have been hampered by a continued contraction of the economy and unemployment which rose to a record 26% in the last quarter of 2012. Spain had committed to reducing budget deficit from 9.4% of GDP in 2011 to 6.3% in 2012 but analysts, including at the European Commission, predict it will miss the target. Rehn said Spanish companies should be given easier access to credit if the economy was to buck the downward trend and generate new jobs. He described \"excessively tight financing conditions\" as a major \"bottleneck\" for the government of Prime Minister Mariano Rajoy to tackle. Brussels has already forecast Madrid would fall short of its 2013 budget target but Rehn tried to remain upbeat about Spain\'s path to recovery and the year ahead. \"This will be still another difficult year, but I\'m confident that it will also be the year in which the corner is turned, in which Spain and the euro zone as a whole can move from stabilisation to a sustained recovery,\" he said.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu hints at easing of budget targets for spain Arab Today, arab today eu hints at easing of budget targets for spain

 



Arab Today, arab today
Arab Today, arab today Heart of Turkish Riviera is Alluring Seaside Escape

GMT 11:11 2017 Tuesday ,28 March

Heart of Turkish Riviera is Alluring Seaside Escape
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Hamas leader accuses Israel

GMT 11:43 2017 Tuesday ,28 March

Hamas leader accuses Israel
Arab Today, arab today Media host gives priority to problems of people

GMT 07:00 2017 Tuesday ,28 March

Media host gives priority to problems of people
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Disaster costs nearly double to $175bn

GMT 10:42 2017 Tuesday ,28 March

Disaster costs nearly double to $175bn
Arab Today, arab today Campaign fights sexual harassment in Egypt

GMT 11:14 2017 Tuesday ,28 March

Campaign fights sexual harassment in Egypt
Arab Today, arab today Trump poised to roll back climate protections

GMT 09:28 2017 Tuesday ,28 March

Trump poised to roll back climate protections
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 09:02 2017 Thursday ,23 March

Laptop ban sparks ire

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 13:21 2017 Tuesday ,28 March

Samsung plans to sell refurbished Galaxy Note 7s

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday