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Spain's Rajoy fires back at Italian criticism

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Spain's Rajoy fires back at Italian criticism


Prime Minister Mariano Rajoy has called for more support from other European leaders, urging them not to talk up Spain’s financial struggles.

His remarks followed reports that Italy’s premier had blamed renewed debt market tension on Spain’s battles to cut its deficit.

Rajoy underlined his government was doing its job by introducing a whole raft of reforms which were not however being recognised by investors.

Meanwhile Rome is becoming increasingly nervous.

After premier Mario Monti saw Italy’s borrowing costs double at a sale of short-term bills, he said his country was paying on the rebound for the Spanish crisis.

Monti has accused Madrid of not acting quickly enough to implement a series of long overdue financial measures.

Spain insists it is able to set its own house in order and is even prepared to make cuts in its treasured health and education systems. But Madrid is now looking for more support from the EU to protect it from market turbulence.

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