European Central Bank (ECB) President Jean-Claude Trichet on June 22 urged a reform in Spain due to the current economic situation.
Trichet said the reform must be based on a sustainable economy and the consolidation of the public finance, something vital not only to Spain but also to all countries in the eurozone.
The president stressed the important role of the companies in such sectors as energy and telecommunications.
The Spanish economy has been severely affected by financial risks in the country, according to Trichet.
He added that the strong increase in domestic demand in Spain had led to high inflation, which affected the country's competitiveness in comparison with the average of the euro zone.
Source:Xinhua
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