The Spanish Prime Minister, José Luis Rodríguez Zapatero, has said that Spain is ‘better prepared’ than elsewhere in Europe to face the financial crisis. He joined the call of his Minister for Tax and Finance, Pedro Solbes, in making a call for calm.
Speaking at the Socialist party headquarters in Calle Ferraz in Madrid, Zapatero said there were objective reasons to keep calm. He said Spain was travelling in the ‘safe boat of the Spanish economy’, although he did admit that Spain was not immune to the globalised world.
The Partido Popular spokesman for the economy, Manuel Pizarro, speaking about the recent falls on the market, said that the party was over and now it was time for the hangover. He said no party goes on forever.
The IBEX 35 responded well to the emergency 0.75% cut in interest rates in the United States yesterday, and ended Tuesday up 1.69% at 12,839.70.