Monday, January 02, 2012

ZAPATERO my have left the country in even worse shape than thought:

Spain's public deficit for 2011 may be even higher than the above-target 8 percent of gross domestic product forecast by the new centre-right government on Friday, Economy Minister Luis de Guindos said on Monday.

The target for last year was 6 percent of GDP, but the conservatives said last week that had been missed, giving it a mountain to climb to hit this year's already tough deficit-reduction goals in an economy on the brink of recession.