Spanish Home Loans Plunge 28.5% to Record Lows; Brussels Revises Spain’s Deficit Upward to 9.4% of GDP

Today we learned from El Pais English edition that Brussels Revises Spain’s Deficit Upward to 9.4% of GDP The European Union’s statistics office, Eurostat, on Monday said it had revised Spain’s public deficit for last year upward from 8.5 percent of GDP to 9.4 percent to reflect state injections of capital into nationalized banks. That put Spain on a par with Greece and only behind Ireland, whose shortfall was 13.4 percent of GDP, in the EU

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Spanish Home Loans Plunge 28.5% to Record Lows; Brussels Revises Spain’s Deficit Upward to 9.4% of GDP