Spain’s Ordóñez emphasises need for labour market reforms


Miguel Fernández Ordóñez, the governor of the Bank of Spain, on Tuesday said labour market reforms in Spain were urgently needed.

At the Parliamentary Committee on Economic and Financial Affairs, in Madrid, Spain, at the presentation of the central bank's 2010 Annual Report, Ordóñez said the Spanish economy faced considerable challenges and that its most "pressing task" lay in the labour market.

Ordóñez said the unemployment rate in Spain was unjustifiably "high" and that to reduce it an

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