Spain needs 'urgent' pension overhaul, tax changes, OECD says

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SPAIN - Spain needs an "urgent" overhaul of its pension system and may have to raise taxes to tame the euro-region's third-biggest deficit and avoid a jump in corporate borrowing costs, the Organisation for Economic Cooperation and Development said.

The Spanish government is making "progress towards sustainability" of its public finances, although some measures need to be "spelled out," the Paris-based group said in a report. The tax burden is...

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