Spanish PM: Spain's economy is strong - by Melissa Eddy
Spain's prime minister has defended his nation's economy as "robust and strong" and vowed to stand by Greece, which has plunged the nations using the common European currency into a debt crisis.
In comments late Thursday, Prime Minister Jose Luis Rodriguez Zapatero also expressed understanding for President Barack Obama's decision not to attend an annual EU-US summit being planned for May and indicated a meeting would be held in the future, but did not say when.
In remarks to the Atlantic Council, Zapatero dismissed worries about the Spanish economy, saying that "Spain's financial system is robust and strong."
Last week, Zapatero's government announced a deficit for 2009 that was equal to 11.4 percent of economic output, nearly four times the European Union limit. Madrid's disclosure came atop EU concerns about Greece's 12.7 percent budget deficit that has forced the government to enact austerity measures and fueled fears that it might default.
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Labels: EU Economy, Spain
