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Spain and Italy Won’t Need External Help, Qvigstad Tells TDN

Spain and Italy won’t need external help with their finances, said Jan F. Qvigstad, deputy governor of Norway’s central bank, according to TDN Finans.

Spain has taken measures to cut spending and the political leadership seems to have a high tolerance for unemployment, Qvigstad said today at a conference in Hamar, Norway, adding that he wasn’t “very nervous” about Spain and Italy.

Portugal also faces a simpler situation than Ireland because it has a smaller banking industry and debt burden, Qvigstad said, according to the Norwegian news agency.

To contact the reporter on this story: Josiane Kremer in Oslo at Jkremer4@bloomberg.net

To contact the editor responsible for this story: Tasneem Brogger at tbrogger@bloomberg.net

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