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Old 08-23-11, 09:19 AM   #1
Gerald
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Spain to create constitutional borrowing limit

Spain's government and opposition have agreed to pass a constitutional limit on public sector borrowing.

Last week, the French and German leaders called for all eurozone governments to introduce such a limit to help contain the euro debt crisis.

The move came as the Spanish parliament discussed further austerity designed to cut the deficit to 6% of economic output this year, from 9.2% in 2010.

The prime minister also attacked market fears over Spanish borrowing.

http://www.bbc.co.uk/news/business-14629485


Note: 23 August 2011 Last updated at 13:39 GMT
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