Bloomberg News

EU Could Give Spain Another Year to Meet Deficit Goal, Pais Says

May 30, 2012

The European Commission plans to ask European Union finance ministers for their approval for Spain to have one more year to meet the budget deficit target of 3% of gross domestic product, El Pais reported. * Deficit goal of 3% would be delayed to 2014 instead of 2013, the newspaper said * Commission also asks for measures including an increase of VAT, El Pais reports * El Pais cites a draft of recommendations by the commission to be presented today * Link to website: www.elpais.com

To contact the reporter on this story: Manuel Baigorri in Madrid at mbaigorri@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net


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