Economics
Moscovici Says Spain Needs New Government Before Tackling Budget
- EU Commission due to issue guidance on Spanish budget Tuesday
- Guindos says growth will allow Spain to meet EU targets
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Spain needs to resolve its domestic political gridlock before it can answer European Union concerns about its budget, Economic Affairs Commissioner Pierre Moscovici said.
The commission has held firm on Spain’s targets while waiting for revised draft budget plans. Moscovici said the EU hasn’t changed its views since October, when it said the nation was at risk of breaching deficit rules in 2016 and its spending plans should be revised.