EU Threat

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MEPs have objected to a planned freeze on EU funding threatened on Spain and Portugal for breaking fiscal rules. At a meeting on Monday, a majority of speakers considered the move “immoral,” “unfair,” “counterproductive” and even “illegal.” Spain has been given a deficit target of 3.1% of GDP next year and 2.2% in 2018, meaning cuts or tax rises totalling €5 billion in each year.

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