/ VIDEO: ATLAS Economic Affairs Commissioner ruled out a rescue for Spain and Italy. It looks totally unjustified attacks on Spain and Italy of the markets. It considers that Spain has advanced significantly. The European Commissioner for Economic Affairs, Olli Rehn, said that the harassment of the markets against Spanish and Italian debt is incomprehensible, and assured that Spain has come a long way in their plans of adjustment and reform, although it is crucial that you apply them conclusively. Spain is committed to comprehensive measures. Spain has advanced significantly in the areas of fiscal consolidation, the restructuring of the banking sector, the reform of the pension and labour reforms () but, although many of the reforms already underway, his forceful implementation is essential, Rehn said at a press conference. The Commissioner has ruled out that a special rescue program for Spain and Italy, whose risk premiums continue this Friday required in historic highs.

In the case of Spain, Rehn has pointed out that it is still necessary that reforms structural, as that of the banking system and the labour market reform, reaching term, but that both Spain and Italy are on track to meet its fiscal deficit for the coming year… Rehn also considered that, despite the tense conditions in the markets, the outcome of the auction of the Spanish public Treasury Bonds Thursday to three and four years, awarding 3.3 billion an interest of 4.90% and the 5.05%, respectively, has been relatively positive and that is a good sign. Tensions in the markets we’ve seen in recent days are simply not justified taking into account the economic fundamentals. They are not justified in the case of Italy. They are not justified in the Spain. Changes so dramatic in the markets are incomprehensible, said the Commissioner, who stressed that the economic situation in these two countries have not changed from night to day to provoke such a reaction.