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ECB's says Spain could communicate better

Source: Reuters - Sat 20th Nov 2010

Spain's government could communicate better to markets its plans for reforms, European Central Bank Executive Board Member Jose Manuel Gonzalez-Paramo said on Friday in an interview with Intereconomia television channel.

Spain's borrowing prices have risen on contagion from the debt crisis in Ireland, on fears its high deficit could drive it into its own financial difficulties.

The government has pledged austerity as well as pension reform to cut its deficit. But Gonzalez-Paramo said there have been mixed messages about some reforms.

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