Members of the Eurogroup could have been louder, but not much clearer, in their efforts pressuring Spain to carry out pending reforms and ask for a bailout.
Luis de Guindos, who attended the meeting in Cyprus, compelled Spain to finish its reform process, met its deficit goal and, if necessary, make more cutbacks. The Spanish cabinet seconded this strategy and finally approved a pending energy reform and the announcement that services would be freed and markets united.
The latter sounds like old news, and yet, nothing is being said about fundamental reforms to the public sector. The problems are too serious to try and dance around them.
