IMF urges urgent action from Spain to create jobs, growth

MADRID: Spain's reform progress and a correction in its fiscal and external imbalances are helping it to stabilise its economy, but urgent action is needed to create jobs and stimulate growth, the International Monetary Fund said.

Growth to return only slowly in second half: EU

NEW YORK: Economic growth in the euro zone will return only slowly in the second half of the year as the region continues to work toward repairing the damaged financial sector, European Union Economic and Monetary Affairs Commissioner Olli Rehn said on Monday.