April 11, 2012 / 10:03 AM / 7 years ago

Germany regrets markets don't reflect Spanish reforms

BERLIN, April 11 (Reuters) - Germany’s finance ministry said on Wednesday it regretted that the “huge efforts” Spain was making to reform its economy were not recognised by financial markets, where Spanish government debt yields have surged on concerns about its deficit.

“Since the outbreak of the crisis Spain has carried out wide-ranging reforms in a number of areas including financial policy, the labour market and the banking sector,” said German finance ministry spokesman Johannes Blankenheim.

“We regret that the markets have not yet fully recognised these enormous reform efforts,” he told a news conference. He described the state of Spain’s economy as “better than many industrialised countries who are not members of the euro zone”.

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