EU Says Finance Ministers Didn’t Discuss New Spain Deficit Goals

Euro-area finance ministers didn’t discuss the prospect of Spain renegotiating its deficit deadlines at a meeting this weekin Brussels, the European Union said.

“That issue was not raised” at the Jan. 23 meeting, Amadeu Altafaj, spokesman for EU Economic and Monetary Affairs Commissioner Olli Rehn, told reporters today in Brussels. “Our position hasn’t changed since Monday.”

Rehn on that day “stressed that this is essentially a crisis of confidence and it’s all the more important now that Spain remains committed to restoring sustainable public finances without delay,” Altafaj said, “that it meets the fiscal targets of 2012, the 4.4 percent deficit target, and the 2013 correction date for excessive deficit.”

Spanish Prime Minister Mariano Rajoy said on Jan. 24 that it remains to be seen if the EU decides to revise the deficit targets for the whole region. Meanwhile, Spain is committed to meeting its existing 2012 target of 4.4 percent of gross domestic product, Rajoy said at a news conference in Lisbon.