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...Elena Salgado, finance minister, had complained that no wealthy Spaniards – unlike millionaires in France and the US – were offering to pay more tax....
...Last week Ms Salgado said Spain was “determined to deepen reforms” and would fulfil its deficit promises....
...Until now, the Socialists have resisted, although Mr Zapatero has stepped down as a candidate for the next election to be replaced by Alfredo Pérez Rubalcaba, the former interior minister....
...Elena Salgado, finance minister, said Banco de Valencia, a small bank linked to the Bankia group, would if necessary become the latest lender to be rescued by the authorities....
...Alfredo Pérez Rubalcaba, deputy prime minister, was expected to succeed him....
...Banco de Valencia, a listed bank, might also need a bail-out, according to Elena Salgado, the Spanish finance minister....
...Ms Salgado refrained from direct, public criticism of Germany on the issue, calling only for better communication within the eurozone because “markets punish uncertainty”....
...Ms Salgado said Spain was engaged in “accelerated fiscal consolidation that is bearing fruit and a period of deep reforms”....
...Elena Salgado, who is implementing an official austerity programme and has vowed to reduce the budget deficit, remains as finance minister....
...“I suppose that, despite [finance minister] Elena Salgado’s restrictions, there will be something left for a beer,” Alfredo Pérez Rubalcaba, the interior minister, said expectantly to Alberto Ruiz-Gallardón...
...“The main cause of the increased deficit is not increased costs, it’s the fall in revenues,” said Alfredo Pastor, economics professor at Iese Business School....
...Wednesday’s ruling was widely expected by Spanish companies after recent comments by Elena Salgado, finance minister, that none would have to pay back large sums in deducted tax....
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