Paris and Lisbon said they would seek more time from Brussels to reach their deficit goals. Madrid has already indicated the same.
The EU's executive said the euro zone economy, which generates nearly a fifth of global output, would shrink 0.3 percent in 2013 after a 0.6 percent fall last year, blaming a lack of bank lending and record joblessness for delaying the recovery.
http://www.reuters.com/article/2013/02/22/us-europe-economy-deficit-idUSBRE91L0MM20130222
Source: http://thecomingcrisis.blogspot.com/2013/02/spain-france-to-miss-debt-goals-as-euro.html
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