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Spain's 2013 budget a lose-lose act for Rajoy

Wednesday, September 26, 2012 - 02:03

Sept. 26 - Spanish prime minister Mariano Rajoy's 2013 budget aims to save billions without the austerity biting the recession-ravaged country too much. A near-impossible task.

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Okay. Spaniards are taking to the streets. That -- once again. It's not it's not going. -- -- The numbers -- want to. Total savings by the end of 2014. Likely to be mostly spending cuts will exceed sixty billion euros to buys -- not -- Daiwa capital markets. Thinks that deficit will only -- Well I think the target for this year the six point 3% nothing now looking at the -- it's hard that they have achieved the -- four point 6% of the community looks that's famous. Is today Israel trek -- I think so I probably I think the oh deficit target for this you will likely be more in the neighborhood. Off 7% rather than the six point 3% that they costs related and that obviously you also have implications for next year and I think 2014. So -- will grow quite find these billions he's running out of options and does not looking at things like taxes on stock transactions. Green taxis on emissions while eliminating tax -- And previous -- comes in inflation linked pensions but managing director and tightly defined Sony. Says it won't be enough. I'm afraid we are going to get a budget which is credit -- neither for the -- gates nor for the European -- It's going to try and meet too many objectives ought to let the same time serve too many monsters and ending up not sending any of them. The employees and a sticky spot at -- he must -- drawing social unrest and deepening recession and rising regional political tensions. From abroad is under mounting pressure to -- financial aid Thursday's budget the only magnify his plight. Teaming me even for Reuters.

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Spain's 2013 budget a lose-lose act for Rajoy

Wednesday, September 26, 2012 - 02:03