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EU executive warns Spain it must step up deficit reduction efforts

Source: Reuters - Wed 9th Mar 2016
EU executive warns Spain it must step up deficit reduction efforts

The European Commission warned Spain on Wednesday it needed to increase its efforts to cut its budget deficit or risk a stepping up of EU disciplinary action against Madrid.

The warning, however, is unlikely to be heeded for now, because Spain still does not have a government after inconclusive elections in December.

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* Spanish economy grew 3.2% in 2015