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State Secretary

State Secretary

Its first meeting has been the holder of foreign, Trinidad Jimenez, to talk about the economy, the situation in Libya and Afghanistan and the Spain-U.S. relations. On the agenda of Clinton, meetings with Zapatero, the King and Rajoy. Jose Luis Rodriguez Zapatero, the President of the Government, has undertaken this Saturday before the Secretary of State American, Hillary Clinton, to continue to promote structural reforms that will enable to consolidate the recovery, and has highlighted the importance of fiscal consolidation processes. Zapatero, who met at the Palacio de La Moncloa with the Secretary of State American, on the occasion of his official visit to Madrid, has informed Clinton of the efforts that the EU is doing to ensure the euro’s stability and improve their economic governance, according to the Government on its website. In this way, Zapatero It responds to the words of Clinton, that he has encouraged this Saturday the Spanish Government to complete the economic reform package that has underway to restructure finances and strengthen the competitiveness of the Spanish economy.

Clinton has shown understanding with that is difficult measures they take time and patience and it is important to achieve it until the end. In addition, Clinton has assured that Spain can count on friendship proyects in Europe of the Government and the people of the USA. It is the second fastest growing EE UU inverter. In addition, the Secretary of State stressed that American support for the Spanish economy is very strong. The Secretary of State has made these statements at a working breakfast with the Minister of Foreign Affairs, Trinidad Jimenez in the Viana Palace at 0900 hours on Saturday, in which both reviewed matters of mutual interest and international news, as the situation in Afghanistan and Libya.

Fund Commissioner

Fund Commissioner

Rehn stressed that the fact that both Italy and Spain have committed to undertake and implement ambitious measures to achieve fiscal consolidation and the full recovery of their economies is what should prevail in the view of the markets. It is what matters and what must be taken into account, he concluded. They ruled out a rescue for Spain and Italy do not believe that none of these two countries are going to need a special program of rescue, the foundations of its economy does not justify to be necessary, the Commissioner said, the measures already taken by their parliaments would not be needed such extraordinary measures. On the other hand, the European Commissioner has assured that the agreement on the second bailout to Greece and to ensure the stability of the eurozone will be completed in weeks, in early September. We are doing what is necessary to implement the agreement as rapidly and fully as possible, said Rehn, and he said that the European Commission’s services are working day and night to finish the technical details of the agreement and that they are moving rapidly.

The Commissioner relied on investors to tranquilizaran on the implementation of the agreement once they understand that all this work is carried out, and recalled that the President of the EC, Jose Manuel Durao Barroso, yesterday urged the EU leaders to a rapid implementation of what was agreed. Rehn also stressed that the EU must be ready to adapt its crisis management tools so that they are credible and acti, in allusion to the possibility of expanding the rescue (EFSF) Fund. To make this instrument asset’scarryingamount, it must be credible and respected by the markets, so the EFSF will need to be continuously evaluated and updated, said the Commissioner. According to Rehn, this is in line with the conclusions agreed at the end of July by leaders Europeans, who demanded better crisis management methods in the single currency area. As yesterday underlined Barroso in his letter to the js from Government, the Commission remains ready to contribute to this task of paramount importance, added Rehn. In such a missive, the EC President said that the debt crisis already not only affects the peripheral countries and noted the need to expand the bailout Fund (EFSF), something that has attracted criticism from the German Government to reopen this debate at the wrong time. Source of the news: EC says is crucial to Spain apply “offensively” reforms