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Spanish Regions, Central Govt Agree Deep Spending Cuts
yahoo.com 1 week, 3 days agoMADRID (Reuters) - Spain's central government on Thursday approved plans to drastically cut the spending of its indebted regions this year and said it would introduce by July a new mechanism to back their financing needs. As the country races to control finances in its autonomous communities and reassure investors it can meet fiscal targets, the government said the regions had committed to slash spending by 13 billion euros ($16.52 billion) and increase revenues by 5 billion euros ($6.35 billion). ...
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Spain To Slump Further But Will Hit Deficit Goal
yahoo.com 1 week agoMADRID (Reuters) - Spain said on Monday it would meet its deficit targets this year despite a new slippage in its regions' accounts and a further contraction of the economy in the second quarter. Economy Minister Luis de Guindos said economic activity would likely slump by another 0.3 percent between April and June, further fuelling doubts about the country's ability to get a grip on in its finances and nurse an ailing banking sector back to health. ...
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