Draghi Says Next Move Isn’t His as Spain Resists Bailout Request

Draghi Says Next Move Isn’t His as Spain Resists Bailout Request

Hannelore Foerster/Bloomberg

The government of the euro area’s fourth-largest economy was told by the European Commission that its plan to cut the deficit to 4.5 percent of gross domestic product next year is overly optimistic, two people familiar with the issue said yesterday.