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Salgado contradicts Zapatero on need for further reforms

Tue 19th Apr 2011

Earlier today Spain's Finance Minister Elena Salgado, gave in interview on the Cadena Sur radio station stating how the government will introduce more reforms over the next few months in order to increase investor confidence and to ensure that the 1.3% target for 2011's economic growth is met.

She went on to explain how the reforms would not be severe but would include measures to reduce Spain's black economy, aswell as a review of the permitted hours of opening for shops, and for reform to the pensions system for public sector workers.

Salgado's comments followed the Prime Ministers annoucement just last week that Spain did not plan any more economic reforms.

The Finance Minister also spoke of further restructuring of the cajas, which have been exposed to the collapsed property market, and burdened with billions of euros in distressed and reclaimed properties.

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