IMF: Spain Should Slow The Pace Of Tightening

Monexnews-Spain need budget tightening measures slow given the country's economic prospects suramnya, according to an official of the International Monetary Fund on Thursday.

IMF spokesman William Murray, said the move aims to improve the economy, the recession appears to be increasingly profound, Spain followed an unusually high rate of unemployment and a fragile financial condition.

"Back on track For growth, Spain requires a more significant step to gradual fiscal consolidation, along with the implementation of structural reforms which could create jobs and boost confidence," said Murray in a press conference discussing the weekly 2 a wide range of topics.

Separately, Murray said if the IMF team also is in Central Italy for two weeks to assess the country's financial sector. "We will monitor the risks and resilience of the financial sector of Italy, how to solve the problem of banking and the crisis management arrangements," added Murray. (vid)

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Bonds Plummeted Ahead Of The European SUMMIT Of Spain

Monexnews-Government bonds which raised Spain's 10-year slipped for the first time in three days before Ministers from 15 European countries met today in Brussels to discuss aid for Cyprus and Greece suffered amid signs of a crisis in the region.

Italian bonds also weakened. And the 10-year Treasury bond down to its lowest level in Germany in two weeks, as the condition of elections in Italy and Cyprus that began to threaten the calmness in the market, as demand for starting to look berkuranganya Germany in 2013 bonds.

"Volatility is slightly increased, and we got problems in some countries of the European zone," said Patrick Jacq, senior analyst at BNP Paribas SA in Paris. "

(fsyl)

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