Spanish Prime Minister Jose Luis Rodriguez Zapatero on Wednesday ruled out new budget cuts to help reduce his country's public deficit, after winning China's renewed support for buying Spanish debt. Spanish and Chinese firms signed deals worth about one billion euros ($1.4 billion) during Zapatero's lightning visit to Beijing, aimed at securing fresh investment to shore up Madrid's embattled economy.
"There are no new plans on the horizon to have to take any new (deficit reduction) measures. None," Zapatero said.
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