Spanish Prime Minister Mariano Rajoy stepped up efforts to reassure investors he can bring the country’s deficit under control as his government fights to avoid becoming the fourth euro-area member to require a bailout.
Rajoy met with his health and education ministers yesterday to discuss cuts of more than 10 billion euros ($13 billion) as the government reiterated its pledge to reduce the deficit to 3 percent of gross domestic product next year. That includes plans to accelerate the sale of stakes in lenders under government administration, according to an e-mailed statement. (Source: Bloomberg)
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