A round-up of public finance stories from Europe you might have missed this week (November 19–23)

Central bank says Spain may miss deficit targets

Spain's economy shows no signs of recovery and the country risks missing budget deficit targets this year and in 2013 as a deep recession drags on, its central bank governor has said (Reuters).

Italian mayors threaten to resign over budget-cutting plans

Hundreds of Italian mayors have threatened to resign in protest at the budget-cutting plans of Prime Minister Mario Monti's government (People’s Daily Online, China).

Belgium reins in labour cost and raises taxes in budget deal

The Belgian government agreed to rein in wage growth and reduce social security contributions for employers to restore competitiveness as it raised a tax on investment income for the second time to cut the budget deficit (Bloomberg, US).

Serbia's 2012 budget deficit likely to be 6.1% of GDP

Latest estimates have revealed that Serbia's budget deficit in 2012 will be at 6.1% of gross domestic product, which is less than expected (B92, Serbia).

Unfair Irish budget cuts 'may face legal challenge'

Unfair or ‘disproportionate’ austerity measures introduced in next month’s budget could be challenged in the courts, a human rights conference in Dublin has heard (Irish Times).