Rajoy said he would keep focusing this year on creating jobs, cleaning up the financial system and reforming the health, education and energy sectors. "The first objective of this government is to turn around this situation... The reality is terribly hard, no green shoots or passing clouds or early spring", Rajoy said. "To those who are asking for relaxation, not a minute of relaxation or calmness. This has just started. The road to creating jobs is a long one", he added.
Although borrowing costs for Europe's fourth-largest economy and the likelihood of a sovereign bailout for Spain is receding since the European Central Bank said it would act as a backstop to bets against the euro, analysts believe Spain will also miss its deficit goal of 4.5 per cent of GDP in 2013.
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