Friday, July 29, 2011

SPAIN not out of the woods:
Spain remains in “the danger zone” and must maintain momentum in restructuring its economy to keep contagion from Europe’s sovereign-debt crisis at bay, the International Monetary Fund said.

“The outlook is difficult and the risks elevated,” the Washington-based IMF said in a report after a visit by staff to Spain. “The policy agenda remains challenging and urgent -- there can be no let up in the reform momentum.”