FXstreet.com (Barcelona) – The Ecofin meeting “allowed” Spain to print a deficit of 6.3% of GDP this year after having failed its initial target of 5.3% (already revised from 4.3%): “That does not exactly create confidence in the purpose of the deficit mechanism”, wrote Commerzbank analyst Ulrich Leuchtmann, pointing to this new target as a macroeconomic condition for the EFSF package for Spain. The meeting also decided to disburse the first bank aid tranche of €30B to Spain.
