Spanish Prime Minister Mariano Rajoy on Wednesday received French President Francois Hollande at the Moncloa Palace for talks on European issues with focus on job growth and the banking union.
Rajoy said Spain and France agreed that the European Union (EU) needs to do more to promote growth and job creation, specifically to tackle youth unemployment.
They also appealed for EU financial institutions to restore the flow of credit, especially to small and medium-size companies, aiming at helping more young people get jobs.
Rajoy and Hollande expected to speed up steps to the European banking union.
The two sides also announced to inaugurate a new high-speed railway between Barcelona and Paris Dec. 15.
Speaking to the press after the one-day bilateral summit, Rajoy said the opening of the new railway will confirm the closer relationship between Spain and France, believing it would boost the country's economy.
Other issues on the annual summit agenda included cooperation relating to education and training, anti-terrorism, energy and migration.
French Prime Minister Jean Marc-Ayrault and eight ministers accompanied President Hollande to the annual bilateral summit.