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“A new blow to Spain in the midst of the euro crisis: the IMF puts on the pressure,” leads the El Periódico newspaper following the IMF's publication of the preliminary findings from its assessment mission in Spain. The institution “is demanding from the Spanish government an additional adjustment of 20 billion euros in three years.” While it “praised” the reforms brought in by Prime Minister José Luis Rodríguez Zapatero, it nevertheless considered that the recent reform of the labour market has been “limited” and that the risks to the Spanish economy remain “considerable”. The IMF recommends tackling further reforms with “courage”, as the recovery is seen as “gradual but incomplete.” For the IMF, the regions and municipalities are the “main sources of uncertainty” in meeting the objectives of controlling the deficit, El Periódico concludes.
