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Spain is given more time to sort out its deficit

5 years ago7 views

Euro zone ministers meeting in Brussels have agreed to give Spain until 2014 to reach a 3 per cent deficit target. They also detailed aid package for Madrid's ailing banks.

The deal, which was produced after a marathon 9-hour session, is in return for further budget savings and should prevent the need for a full state bailout.

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http://www.euronews.net/