Spain’s Economy and Competition Minister Luis de Guindos said yesterday in Madrid the nation’s economy has suffered a “relapse” and will contract as the People’s Party takes over the nation’s finances from the Socialists. “The next two quarters aren’t going to be easy,” he said.
Germany’s government is revising its forecast for 1 percent economic growth in 2012 and will present a lower figure in mid- January, Focus magazine reported, without citing anyone.
The nation’s economy ministry denied the Focus report, saying no decision has been made. An analysis of potential growth is still ongoing, a spokeswoman said in an e-mailed statement, declining to be identified, citing ministry policy.
Italy is scheduled to sell 9 billion euros of 179-day bills and as much as 2.5 billion euros of zero-coupon 2013 securities tomorrow. It will auction debt due in 2014, 2018, 2021 and 2022 the following day.
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