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URGENT ¥¥¥ Spain cut deficit below 7% of GDP in 2012: PM

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(Globalpost/GlobalPost)

Spain cut its public deficit below seven percent of gross domestic product in 2012, against a target of 6.3 percent set by European authorities, Prime Minister Mariano Rajoy said on Wednesday.

Rajoy told parliament in a state-of-the-nation address that his tough deficit-cutting measures had rescued Spain from "shipwreck".

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http://www.globalpost.com/dispatch/news/afp/130220/urgent-spain-cut-deficit-below-7-gdp-2012-pm