Pressure builds on Rajoy to reveal plans

Fitch urges PP to introduce sweeping reforms after poll win

EL PAÍS / A. S. Madrid 22 NOV 2011 - 20:56 CET

Prime Minister-elect Mariano Rajoy on Tuesday came under increasing pressure from the markets and the international community to unveil how he plans to get Spain's financial house back in order and avoid the fate of Greece, Ireland and Portugal in having to go cap in hand to the European Union and the IMF.

Just two days after the opposition Popular Party won an absolute majority in Sunday's general elections, Fitch Ratings urged the incoming government to come up with new measures to tackle the public deficit.

"The government's fresh mandate, following the victory, with an outright majority, of the Popular Party in Sunday's parliamentary election, provides a window of opportunity," Fitch said. "If it is to improve market expectations of its capacity to grow and reduce debt within the confines of the euro zone, it must positively surprise investors with an ambitious and radical fiscal and structural reform program."

In an editorial published Tuesday, the Financial Times said: "Rajoy has no time to lose. He must not miss the window of opportunity that his weekend election has opened."

In a telegram congratulating him on his victory, German Chancellor Angela Merkel said Rajoy had a "clear mandate" to "rapidly" push through the reforms that both Spain and the European Union need.

Rajoy has yet to name his Cabinet and the new government is not expected to be in place until well into December. Members of his team say he is working to ensure a smooth transition.

Meanwhile, Spain on Tuesday paid more than Greece to issue short-dated Treasury bills.

Otras noticias

Últimas noticias

Ver todo el día

Un empresario estrella un coche con explosivos contra la sede del PP

El conductor, que ha sido detenido, llevaba dos bombonas de gas y una sustancia explosiva

Cuba y Estados Unidos: ¿un milagro de San Lázaro?

Este pacto es una victoria de la razón y conciliación que necesita el mundo

El ‘topo’ liberado por Cuba sería un cubano con familia en España

Medios estadounidenses identifican al misterioso espía liberado por Cuba como Rolando Sarraff Trujillo

Obama firma una ley que sanciona a altos funcionarios de Venezuela

EE UU da vía libre para que su país sancione a los miembros de la alta jerarquía chavista

LATIN AMERICA

Colombia’s FARC guerrillas declare unilateral and indefinite ceasefire

Government must decide whether to do the same or risk ending truce

Bolivia seeks to improve its image abroad

President Morales is trying to reset relations with the US in order to boost its lawsuit against Chile over sea access

Mexico’s animal hell

Elena Reina Muñoz Mexico City

Every Monday ill and mistreated livestock is sold at the San Bernabé market in appalling conditions

Lo más visto en...

» Top 50

Webs de PRISA

cerrar ventana