Cristobal Montoro obliges regions to cut budgets

Note: This section contains information in English only.
Source: Bloomberg
Spanish regional governments are missing their budget-deficit targets for 2012 (1.5% of GDP) and were given one week to make corrections for the plans. Last year regions showed the highest overspending, running 3.3% deficit. Cristobal Montoro, Spain's Budget Minister, also rejected finance chiefs pleas of relaxing their deficit targets. Currently Spain's budget deficit target for 2012 is 6.3%, 4.5% per 2013 and 2.8% for 2014.
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Fri, 13 Jul 2012 08:39:03 GMT

Yen - the best performer among developed-nation currencies

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Fri, 13 Jul 2012 09:52:02 GMT

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