Spain welcomes Franco-German economy summit

16th August 2011, Comments 0 comments

Spain's prime minister welcomed Tuesday a Franco-German summit on the sovereign debt crisis in which the leaders vowed to give the eurozone a "true economic government".

Prime Minister Jose Luis Rodriguez Zapatero discussed the results of the summit with his Finance Minister Elena Salgado and Public Works Minister Jose Blanco.

"Zapatero gave a positive evaluation of the messages sent this afternoon in Paris by French President Nicolas Sarkozy and German Chancellor Angela Merkel because they suppose an important step forward for the economic union of the eurozone," said a statement by the premier's office.

Spain's finance minister has outlined plans to bring in an extra 4.9 billion euros ($7.0 billion) this year by bringing forward advance tax payments by big companies and by cutting health spending through the use of generic drugs.

The Spanish government plans to hold cabinet meetings August 19 and 26 to decide on measures to stimulate the flagging economy and to meet its deficit-reduction targets.

© 2011 AFP

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