News Headline Summary

EU's Rehn says Spain is undergoing difficult rebalancing

Says:
- Spain has adopted sizeable measures on consolidation.
- Spain's structural balance improvement is in line with what the EU ministers asked of Madrid.
- Spain is making progress.
- No further steps in excessive deficit procedure are needed.
- Spanish measures for 2014 fall short of what is required by EU ministers.
- Will reassess Spanish finances again in February.
- Only Spain can make decision to request aid.

Analysis details (15:34)

- The comments from Rehn come as he is speaking on the deficit situation in Spain, and has so far said nothing outside of market expectations.

14 Nov 2012 - 15:30 - Economic Commentary - Source: Newswires

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