Madrid prepares to breach budgetary rules

Article reports that Spain’s Socialist government, which has long boasted of its prudent economic management, said on the 20 November 2008 it might run a budget deficit well in excess of the European Union limit of 3 per cent of gross domestic product in response to the economic crisis.

ESO: Background information: OECD downbeat on Spain’s return to growth http://www.europeansources.info/record/oecd-downbeat-on-spains-return-to-growth/

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