BRUSSELS (MNI) – New measures announced by Spain are welcome and
show the government’s determination to press ahead with its reform
agenda, the European Commission said on Wednesday.
The Spanish government earlier Wednesday announced ten new measures
to boost growth and stem investor concerns about its sluggish economic
growth. The measures include changes to benefits and the privatisation
of a number of entities, including Madrid and Barcelona airports.
“We have seen the list of ten measures announced. Of course we
welcome the new concrete measures – and I underline both concepts, new
and concrete – which have been announced today by the Spanish government
as they confirm the determination to press ahead with the reform
agenda,” the European Commission’s spokesman for Economic and Monetary
Affairs told reporters at a regular press meeting.
“Spain has taken very significant, very important policy measures
over the last year and the government has publicly committed to further
significant reforms in the short term, including in areas that are
difficult,” he said.
Asked whether the Commission was planning on taking any action on
Eurozone bond spreads, which have been widening as investors worry about
high debt and deficit levels among many of the Eurozone’s 16 members,
the spokesman said that wasn’t the Commission’s role.
“The Commission does not act in the market to correct spreads,” the
spokesman said, adding that the Commission’s job was to ensure the right
policy decisions are being taken.
The rest is “very much in the hands of member states,” he said.
But he added that all Eurozone member states, including Portugal,
Greece and Ireland were taking the right decisions and that restoring
confidence and certainty in the markets would “take time.”
“The homework is being done, it is only normal that confidence will
be restored gradually,” the spokesman said.
–Brussels: 0032 487 (0) 32 803 665, echarlton@marketnews.com
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