EURO CRISIS
Italy softens tone on Spanish economy after angering Madrid
Prime Minister Monti accused Spain of not paying "attention to its accounts"
The Italian government has moved to soften statements made on Saturday by Prime Minister Mario Monti who said Spain is “giving Europe every right to be worried.” The retraction came after Madrid told Rome that “the timing was not right” for Monti to issue such opinions.
Speaking at an economic forum in Cernobbio, Monti said: “Our attention is turned to some countries which have not taken the drastic decisions we have made. Spain has undertaken an incisive labor reform but hasn’t paid much attention to its own accounts.”
After Madrid told Rome that it was unhappy over the comments, an Italian spokeswoman issued a statement saying Italy “had plenty of confidence” in Prime Minister Mariano Rajoy.
