By | November 15 2012 4:26 AM

Investors who had expected the European Economic Affairs Commissioner Olli Rehn's statement would be an announcement of Spain’s request of bailout would be disappointed. Indeed, Rehn said that the country did not need to adjust its budget despite the likelihood of a fiscal shortfall this year. According to the Rehn, Spain has taken "effective action in 2012 and 2013" and the consideration was "not so much focused on the nominal targets, even though they often make easier headlines because they are exact percentages".