Det internasjonale pengefondet, IMF, uttrykte mandag alvorlig bekymring for Spanias økonomi og ba om øyeblikkelige tiltak. Arbeidsmarkedet ble beskrevet som dysfunksjonelt. Arbeidsldigheten er på 20 prosent. Hvis krisen sprer seg fra Hellas til Spania kan det gi en dominoeffekt. Portugal befinner seg i samme kategori.

The IMF’s comments came after Spanish authorities had to rescue regional lender Cajasur at the weekend.

Last week, Spain’s government passed austerity measures to cut its deficit.

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It is not the first time that the IMF has said Spain needs economic reform, but the language has a much greater sense of urgency

This deficit – the money the administration has to borrow to pay for public services due to insufficient tax returns and other revenues – currently equates to 11% of Spain’s economic output.

This is substantially higher than the eurozone ceiling of 3% and another concern that the IMF has highlighted.

It also pointed to Spain’s property market slump, heavy indebtedness in the private sector, and weak productivity and competitiveness.

‘Bluntly’
«It is not the first time that the IMF has said Spain needs economic reform, but the language has a much greater sense of urgency,» said BBC economics correspondent Andrew Walker.

«The IMF says bluntly, the Spanish labour market is not working and needs reform of pay bargaining and lower payments for fired workers.»

Last week, the Spanish government approved a 15bn euro austerity plan, including a 5% cut to public sector salaries, as it aims to reduce its deficit.

Spain is also having to cope with unemployment of more than 20%.

Concerns about the Spanish economy have to be seen in the light of the recent financial crisis in Greece, which has a deficit amounting to 13.6% of GDP.

IMF raises fresh concerns about the Spanish economy