http://www.euronews.net/ Spain's government is digging in its heels over trimming its deficit.
Prime Minister Mariano Rajoy is lobbying Brussels, trying to get more lenient deficit targets from the European Commission.
Madrid
argues that with the economy slipping into recession it cannot cut
spending by more than 40 billion euros this year to reach a deficit
target of 4.4 percent of gross domestic product.
A government
source told reporters late on Wednesday that Spain would still be in
compliance with European Union agreements on fiscal stability even if it
did not hit a tough target of cutting the deficit.
