Spain's election is bad news for Europe's budget-deficit police

Following the inconclusive election result, the country's budget-deficit targets are at risk

22nd December, 2015
Spain has the fourth biggest economy in the euro zone

Amid the uncertainty over Spain’s political future after Sunday’s inconclusive election result, one thing is clear: the country’s budget-deficit targets are at risk.

Three of the four biggest parties in the new parliament promised voters they’d persuade the European Commission to ease Spain’s budget limits during the campaign. The fourth, Prime Minister Mariano Rajoy’s People’s Party, insists it will meet the goals, though it’s missed them every year since...

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