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April 11th, 2013 
Peter Nolan
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European authorities are warning Spain and Slovenia must quickly address their ailing banking sectors, saying the countries face problems balancing the economies.
The European Commission has delivered its health card on the economies of 13 EU member states, finding Spain and Slovenia fare the worst of the nations under review.
Weak banking sectors and high unemployment have been blamed, with the commission highlighting Spain’s youth jobless figures which show more than half of those aged under 25 are out of work.
The EU’s economic affairs commissioner, Olli Rehn, says Spain must deliver a decisive reform programme by the end of the month.
“In Spain there are still excessive macroecomic imbalances,” he observed.
“Spain should therefore maintain the reform momentum by including comprehensive and concrete policy measures in its forthcoming stability and reform programs.”
Slovenia is expected to follow the lead of countries like Spain and be the next nation to seek financial support.
The eurozone’s economic woes have also prompted the World Trade Organisation to cut its global trade forecast for this year by 1.2 percentage points, down to 3.3 per cent growth in world commerce.
Topics:
business-economics-and-finance,
economic-trends,
trade,
european-union,
slovenia,
spain
Source Article from http://www.abc.net.au/news/2013-04-11/global-trade-forecasts-cut-spain-slovenia-warning/4622438
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