heap long-term loans to banks and the 17 euro countries deciding to tie their economies closer together. Though austerity measures are the main pillar in Europe's strategy to fight the debt crisis, they are clearly hurting the economy in the short-term Spain and Italy are expected to sink into recession this year as their governments cut debt aggressively. Italy, which is the eurozone's third-largest economy and has a debt mountain of around euro1.9 trillion ($2.5 trillion), is predicted to contract by 1.3 percent this year, in contrast to the 0.3 percent growth predicted in November. And Spain is expected to contract 1 percent in 2012, against the 0.7 percent growth predicted in the fall. The Commission warned that if the Spanish government enacts further budget cuts in an effort to meet its 2012 targets, its economy will likely shrink even more. Rehn dodged questions on whether the Commission would be willing to give Spain more time to cut its deficits considering the country's worsened economic situation. Under current commitments to the EU, Spain has to cut its deficit to 4.4 percent of its economic output or gross domestic product for 2012. But the new government,toms shoes coupon, facing another recession, has hinted it wants the EU to lower the target a bit. Your comment will be posted immediately, unless it is spam or contains profanity. For more information, please see our Comments FAQ. An insider's guide to politics and policy, available on the iPad or as a PDF download.
By HOPE YEN, Associated Press WASHINGTON (AP) With no financial relief in sight, the U.S. Postal Service is pushing ahead with planned cuts to more than 260 mail processing centers around the nation, part of a billion-dollar cost-cutting effort that will slow delivery of first-class mail. In a statement Thursday, the cash-strapped agency said it had completed a review of closings to mail processing centers it had proposed last fall. Based on community input and other factors, the post office said, it will move forward with consolidations involving virtually all of the 252 facilities on the list, as well as up to 12 new locations,http://www.zhainanworld.com/home.php?mod=space&uid=14954&do=blog&id=545920, beginning in mid-May. Of the 264 facilities, roughly 41 won't be closed or consolidated right away as the post office conducts additional reviews. The consolidations are expected to result in a loss of roughly 35,000 jobs,http://www.0093.org/home.php?mod=space&uid=67676&do=blog&id=545514, which the post office hopes to achieve mainly through attrition. The agency described the move as a necessary cost-saving measure because of declining mail volume as people and businesses continue switching to the Internet in place of letters and paper bills. The 12 locations added to the list include those in Owensboro, Ky.; Washington, Pa,cheap toms shoes.; Cardiss Collins (Chicago),cheap toms shoes sale, Ill.; Gaylord,http://www.336300.com/home.php?mod=space&uid=44234&do=blog&id=423357, Mich.; Staten Island, New York; Mankato, Minn.; Champaign, Ill.; Atlanta, Ga.; Corpus Christi, Texas; Fort Worth, Texas; Mid-Florida, Fla.; and Butte, Mont. "The steps we are taking now will put the Postal Service on a strong financial footing for decades to come," the agency said in a statement. The estimated $3 bill