Economics
Guindos Ditches Pledge on Spain Deficit to Push Growth
- Finance chief swore tax cuts wouldn't derail deficit reduction
- EU sees Spain missing budget goals for 2015 and 2016
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Spanish finance chief Luis de Guindos ditched his promise to meet European Union budget goals saying shoring up economic growth is more important for his country’s future.
De Guindos said worrying about whether the budget deficit comes in a few tenths of a percentage point above the country’s 4.2 percent target for 2015 would be a distraction from the fundamental challenge of protecting the economic recovery.