Zapatero promises reform

José Luis Rodríguez Zapatero, Spain’s Socialist prime minister, has committed his government to a strenuous programme of economic reforms and predicted a return to growth averaging 2-2.5% during the next five years.

With neighbouring Portugal expected by European economists and bankers to succumb in January or February 2011 to the eurozone’s sovereign debt crisis and accept a bail-out similar to those already arranged for Greece and Ireland, Spain wants to counteract the impression that it will inevitably be next in line for a rescue.