Bloomberg News

Catalan Leader Says Adjustments Necessary to Avoid ’Collapse’

July 04, 2012

Artur Mas, president of the Spanish region of Catalan, said the area’s planned third round of budget cuts worth 1.5 billion euros ($1.9 billion) is necessary to avoid “total collapse.”

Speaking to the region’s lawmakers, the leader of the region that contributes the most to Spain’s economy, said Catalonia is paying 2 billion euros more a year in interest compared with two years ago, according to an e-mailed statement released by his office today.

To contact the reporter on this story: Angeline Benoit in Madrid at abenoit4@bloomberg.net

To contact the editor responsible for this story: Craig Stirling at cstirling1@bloomberg.net


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