“The Spanish economy is accelerating very, very well” – Terra Colombia

Jeroen Dijsselbloem, the president of Eurogroup , said that the Spanish economy experiences a “very good” acceleration , and that the Government has made and “many reforms”. However, believes that Madrid can do more, mainly in the labor market and taxation .

“The Spanish economy is accelerating very, very well. Of course already made many reforms, but I think you can do more (…) on issues such as labor market and tax reforms, “he pointed at the informal meeting of Ministers of Economy and Finance of the eurozone.

“But the government is working on it,” he added Dijsselbloem. Today in Riga, the eurozone partners discussed the third report of monitoring program after the rescue of the Spanish banking difficulties.

Mario Draghi, President of the European Central Bank (ECB), speaks with Dijsselbloem during the meeting of the Ministers of Economy and Finance of the European Union (EU ) in Riga (Latvia)

Photo: EFE in Spanish

Financial Assistance

Pierre Moscovici, European Commissioner for Economic and Financial Affairs, has maintained that is stated in this report, which and preliminary conclusions, that “from the point of view of public finances and structural reforms and the banking sector the situation is better than perhaps expected ” were published.

This shows, in his opinion, “efficiency” program of financial assistance to banks in Spain, he said.

Spain soon receive another set of tips by their partners in the process of economic coordination in the European Union.

European Help

In the mission of post-financial assistance program in March supervision, the Commission European (EC) and the European Central Bank (ECB) called on the Spanish Government to end the ongoing reforms and boost and some still pending, as well as deepen others.

The report serves to analyze whether there is any risk to the repaying the aid of EUR 41.333 million used by Spain of its eurozone partners to recapitalize and restructure distressed banks.

Spain has already advanced in two tranches payment of 1,500 million and 1,300 million euros of that amount.