Bloomberg News

Paramo Says Spain Must Persevere in Reforms, El Pais Says

May 27, 2012

Spain’s People’s Party has done more in less time to improve the country’s financial situation than any other government but must persevere further, European Central Bank Executive Board member Jose Manuel Gonzalez-Paramo said in an interview with El Pais.

“In terms of the budget deficit much has been done but given the magnitude of the adjustment, time is needed to recover a reputation of discipline,” El Pais cited Paramo as saying.

Paramo added that he has “no doubt” that Spain will reach its budget deficit target of 5.3 percent this year.

To contact the reporter on this story: Sharon Smyth in Madrid at

To contact the editor responsible for this story: Andrew Blackman at

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