The Wall Street Journal

May 12, 2012, 11:20 a.m. ET

Spain Govt Says Could Take Over Asturias Regional Finances

MADRID (Dow Jones)--The Spanish government said Saturday it could force new budget cuts for Asturias and possibly take control of the finances of the small northern region.

Due to political turmoil in Asturias, the region hasn't presented its required budget-adjustment program, Spain's budget ministry said in a release.

Political parties in Asturias have been unable to form a regional government since elections there in March.

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