Photographer: Cristian Baitg/FlickrVision via Getty Images

Spain and Portugal Dodge EU Fine for Breaching Deficit Limit

  • EU Commission cites past fiscal efforts, risk of backlash
  • New budget-deficit deadlines issued to both countries

Spain and Portugal avoided a landmark penalty from European Union authorities for persistently missing their budget targets with officials in Brussels opting for leniency amid rising populism and public discontent against austerity.

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