(ANSAmed) - New York, July 16 - The International Monetary
Fund's chief economist pressured Italy and Spain to keep up
their financial discipline in statements on Monday, and warned
at the same time that they can't carry the burden alone.
Olivier Blanchard said Italy and Spain have taken "important steps in the right direction, but they will succeed only if they can finance themselves at reasonable interest rates. As long as the governments are committed to reform, the other members of the euro area should be inclined to help them to make adjustments achievable," Blanchard said. "The countries under pressure must continue public finance reforms, structural reforms and the recapitalization of banks if and when necessary," Blanchard added.
Olivier Blanchard said Italy and Spain have taken "important steps in the right direction, but they will succeed only if they can finance themselves at reasonable interest rates. As long as the governments are committed to reform, the other members of the euro area should be inclined to help them to make adjustments achievable," Blanchard said. "The countries under pressure must continue public finance reforms, structural reforms and the recapitalization of banks if and when necessary," Blanchard added.
