Spain’s economy grew in the first quarter at the same pace as the previous three months, the Bank of Spain said, as the nation struggled to rein in a growing debt burden and the highest unemployment rate in the euro region.
Italian voters are braced for an onslaught of tax-cut promises and attacks on the European Union as the four leading candidates take to the airwaves and criss- cross the country in the election campaign’s final days.
Greece headed for a cliffhanger vote on austerity measures needed to keep the bailout on track as a 48-hour general strike began and European officials squabbled over the timing of a deal to unlock rescue funds.
Portugal reported a budget deficit of 8.6 percent of gross domestic product last year, missing a government target of 7.3 percent and causing a jump in borrowing costs that increases the risk of a bailout.
Portugal’s budget gap widened in the first eight months of the year, indicating the government may struggle to rein in the euro-region’s fourth-largest deficit as its borrowing costs surged to a record.