The governor of the Bank of Spain, Luis Maria Linde believes that "available information" there "diversion risks deficit target this year," so that "given the importance of fulfilling it," should be " , consider additional measures that make it possible in the framework provided by the Fiscal Stability Law ". In his appearance in the House of Representatives before the Budget Committee, Linde has also added that while the announcement by the European Central Bank Monetary Program Cash Transactions (OMT in English) if Spain claims the rescue "has a stabilizing effect "will not suffice. "Given the nature of the problems that are at the origin and development of the sovereign debt crisis, the role that any decision of the ECB can play can hardly go beyond mitigating the risks of major accidents and to provide more time to bear fruit that decisions should be taken in areas other than the ECB itself, "he assured. Also, the governor believes that the provision of "a drop of 0.5% of GDP in 2013 is certainly optimistic" compared with forecasts and analysts who handle international organizations, "set around a 1.5 % of GDP ". Still, Linde believes that this possible deviation of 1% of GDP, "a difference does not seem to be serious or subtract crediblidad the fiscal consolidation exercise was undertaken in 2013." Linde also noted that "the budget of a major effort 2013contienen fiscal adjustment", as the "correction that is sought in the primary deficit, excluding interest on public debt in a recession, nearly 2.5 points GDP, is very difficult, but necessary to achieve the objectives to which Spain is committed. " A fundamental task as "the most urgent problem facing the Spanish economy is regaining the confidence of the markets." And for that, "there is no other way to get to meet the objectives of fiscal consolidation, completing the process of restructuring and consolidation of the banking system, continue the process of private and public debt reduction and deepen the reforms undertaken to improve our competitiveness" ,. Despite all this, Linde has not wanted to be totally pessimistic and said that if we "move forward on those fronts," "I am confident that 2014 will be possible to return to growth and net job creation." With regard to the expenditure for the next financial year, Linde has warned consignments of contributory pensions, unemployment benefits and debt interest "in 2013 is expected to increase significantly." On the request of a possible bailout of Spain, Linde said he does not believe "spending adjustments imply too important." "It would not be cost adjustment that impacts GDP, would go to medium and long term, monitoring. There could be measures which affect the cost, but not too important or unassumable in spending. This new conditionality could be acceptable, "he added. Regarding the reform of the pension system, Linde has remarked "that is an important decision." "It's no secret, take a very important decision. It is a serious decision to be taken by Government. With implications for the deficit this year and beyond. It is important but nobody can be misleading. We know the impact it can have, everyone knows the situation, "he assured. Similar article can be found here