Spain's deficit targets have not been softened by the European Union, Ireland's Finance Minister Michael Noonan said Tuesday, arguing Spain has a hard task to meet its goal for 2013.
"I don't see any softening in Spain's target," Noonan told reporters here after a meeting of finance ministers.
"5.5% of gross domestic product as an adjustment is some high jump to have to undertake," he said, referring to the difference between Spain's 8.5% deficit in 2011 and its 3.0% target for 2013.
"I sympathise with the Spanish finance minister trying to find that level of adjustment."
-By Alex Brittain, Dow Jones Newswires; +32 2 741 14 88; email@example.com