Clinton urges strong action from Europe on the crisis of debt (AFP)

MADRID (AFP) - Secretary of State Hillary Clinton Saturday we called EU leaders to a powerful response to the crisis economic ripple throughout Europe.

During a visit to Madrid, she has also welcomed reforms by the Spanish Prime Minister José Luis Rodriguez Zapatero to revive the economy and rein in debt aims to allay the fears of market which Spain will follow in the footsteps of the Greece, the Ireland and Portugal for a financial bailout plan.

"It is our hope that European leaders continue to ensure that the European face of the crisis response is strong, flexible and effective", Clinton said at a press conference jointly with Jiminez of Trinidad for the Spanish Minister for Foreign Affairs.

"Under the direction of Zapatero the Spanish Government has taken important measures to strengthen its finances, restore the banking sector and to improve its competitiveness." We understand how difficult these steps are.

"And we know that Spain still faces major challenges as it works to consolidate its finances, to reduce unemployment and to overcome the legacy of the global economic crisis," Clinton added.

Zapatero government has raised taxes and expenses with stroke and to lower the public deficit and reforming the labour law to make it easier to lay off to encourage hiring and bring down a rate of unemployment of more than 21%, the highest in the developed world.

The reforms have fueled protests and hurt the popularity of the Government but Clinton said that she was confident that Madrid "will continue the reform process".

"I want to say publicly how much we understand that it takes time and patience of these changes and to see through", she added.

His comments echoed those of Secretary of the Treasury American Timothy Geithner, who earlier this month warned that ambitious tax reform plans put in place in several European nations will take years, not months, to bear fruit.

Week last Federal Reserve Chief Ben Bernanke warned that failure to solve the European sovereign debt crisis could threaten the stability of the global financial system if a solution is found.

"We mostly just follows closely the situation and ensuring best as we can that our own institutions are well positioned to sovereign debt in the so-called country of the devices," he said, referring to smaller economies, sick of the euro, as the Greece, the Ireland and Portugal.

"Messy by default in one of these countries would probably be roil financial markets around the world." It could have a significant impact on credit spreads, the price of the shares and so on. "And so in this regard, I think that the effects of the United States would be quite significant", he added.

The Group of Bill Clinton offers recipe for the economy (Reuters)

CHICAGO (Reuters) - if the banks on their 2 trillion dollars cash hoard, worker training programs have been intensified, and $ 3 million job vacancies have been filled, the economic recovery would be much stronger, a panel assembled by former President Bill Clinton said Wednesday.

Clinton opened the meeting of his six years with a discussion entitled "Jobs, jobs, jobs," Clinton Global Initiative that the Organization for the first time is squarely focused on the United States.

"In banks in America-were much more the $ 2 trillion in cash not committed loans." Now, there are from 2 trillions of dollars of loans out there, but there some who is not satisfied, "Clinton said to the collection of 750 business leaders, Government and non-profit organizations.

Clinton opened the two-day Conference by announcing several "commitments" by enterprises and the working groups that are used to finance new jobs.

Since former President created the organization in 2005, he said that he obtained $ 63 billion in commitments that contributed to 300 million people in the world.

The economy is recovering more slowly, from what has been dubbed the great recession than any slowdown since the second world war. Although the recession officially ended in mid-2009, the economy is being retained by the sluggish employment growth, the weak real estate and the lean application for loans.

"The path of the economy means that we close not the difference of employment until 2023," former assistant presidential Clinton Laura Tyson said the rally, referring to retrieve not only jobs lost in the recession, but also to create jobs for the influx of 125,000 new workers per month.

Clinton praised a program in the State of Georgia to United States to help companies that are reluctant to hire workers.

Georgia format future workers for six weeks and then pays them while they "hearing" to their jobs, said former state labor Commissioner Michael Thurmond, Member of the Group of experts.

Clinton said job offers 3 million U.S. estimated filling could halve unemployment rate of 9.1% of the country. But the positions are to be filled to half the pace of previous recessions, he said.

Republican Governor Haley Barbour of Mississippi, another group, said: "we stop stigmatising vocational training".

Barbour said that his State had financed programmes of vocational training at community colleges, rather than spend money on unemployment insurance.

Clinton said he was looking to other countries for solutions. In Germany, he said, was particularly innovative subsidy 20% of the remuneration of workers who otherwise would be laid off.

(Editing by Philip Barbara)