Spain's Ordóñez renews call for government action


Miguel Fernández Ordóñez, governor of the Bank of Spain, said in a speech released on April 18 that it is "vital" that the country's forthcoming budget "be fully consistent with achievement of the target set for the budget deficit of 5.3% of GDP this year".

Addressing the Spanish parliament's Committee on Budgetary Affairs, the governor said that should further remedial action be necessary, "new tax measures would have to be taken, preferably in the area of indirect taxation".

He elaborated on t

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