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The EC calls Spain's declaration it will miss its 2012 budget target a "serious, grave"...

Mar. 05, 2012 12:36 PM ETEWP, FXE, ERO-OLD, URR, DRR, ULE, EUOBy: Yigal Grayeff, SA News Editor2 Comments
The EC calls Spain's declaration it will miss its 2012 budget target a "serious, grave" deviation, but the Spaniards are defiant and the rebellion has begun. "I cannot remember such a bold and open act of defiance by any state," says Ambrose Evans-Pritchard. "As for the 'Fiscal Compact,' it is rendered a dead letter by Spanish actions."

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