Rehn welcomed the additional fiscal adjustment inl
Rehn welcomed the additional fiscal adjustment in Spain and Portugal.
Brussels, May 10 .- The Commissioner for Economic and Monetary Affairs, Olli Rehn, today welcomed the additional fiscal measures recently adopted in Spain and Portugal, who had already advanced reaction this morning his spokesman, Amadeu Altafaj.
"It is essential that the Portuguese and the Spanish government have committed to take further measures for fiscal consolidation, which began this year and continue to the, buy darkfall gold, next year.
This will have even greater positive impact on the stabilization of the euro area, "said Finnish politician at a conference in the framework of the European edition of the World Economic Forum.
The Spanish Government announced on Sunday his intention to increase by 0.5 percentage points of GDP deficit reduction in 2010, sto energy credits, and an additional point cut predicted by 2011, through a series of measures that would result in additional savings of 15,000 million euros.
For its part, the Executive of the Portuguese Socialist Jose Socrates aims to bring the fiscal deficit below 8.3% this year.
Rehn's statements came a day after finance ministers from the European, cheap aion kinah, Union (EU) agreed to a euro rescue plan unprecedented in an emergency meeting in which several ministers called for more measures to adjust to Spain and Portugal as a condition for approving the safeguard mechanism.
The European Commission (EC) expected the details of these additional adjustments, which in the case of Spain should go through Parliament this week, ahead of the conclusion of the next meeting of the Ecofin Council on 18 May.
Moreover, Rehn trust in the financial instrument adopted yesterday, able to mobilize up to 750,000 million euros, will serve to strengthen the monetary union and change the evolution of markets, which in recent months have led to interest paid maxima some countries for its sovereign debt.
The commissioner, who on Wednesday presented a package of measures to strengthen economic coordination in the European Union, also criticized the role played by credit rating agencies in the debt crisis.
Rehn recalled that the European Commission currently deck the possibility of creating a risk rating agency Europe but avoid giving more details as the task would correspond to his colleague in charge of Internal Market, Barnier.