Reuters: Market News: Italy PM Monti says worried about Spain

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Italy PM Monti says worried about Spain Mar 24th 2012, 16:37 CERNOBBIO, Italy, March 24 | Sat Mar 24, 2012 12:37pm EDT CERNOBBIO, Italy, March 24 (Reuters) - Italian Prime Minister Mario Monti said on Saturday he was concerned about Spain's public finance situation and said contagion could easily return to the euro zone and affect Italy. Spain shocked markets last month when it said it had missed its 2011 budget deficit target and a few days later set itself a softer goal for 2012. "It (Spain) certainly made decisive reform of the labour market but it did not pay the same attention to public finances," Monti said at a conference on the economy near Lake Como. "This is causing us a big concern because their yields are rising and it wouldn't take much to recreate the contagion that would also involve us," Monti said.

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