URGENT ¥¥¥ Spain's 2012 public deficit explodes to 10.2%: EU

Spain's public deficit exploded to more than 10 percent of national output in 2012, the European Commission said on Friday two days after Prime Minister Mariano Rajoy said it had fallen below 7.0 percent of GDP.

The figure for 2014 in the EU's latest economic forecasts would be 7.2 percent, Brussels also said -- although these figures may pre-date those of Rajoy, who said on Wednesday that Spain had avoided an economic "shipwreck" last year.