UPDATE 2-More Spain, Portugal reform details needed -Juncker

* Extra measures would help calm markets, he tells paper

* Sees no reason for mkts to penalise Italy

* Tells RTL euro zone determined to ensure stability

* Says euro zone bond plan to go forward

(Adds summit comments from RTL interview)

MILAN, Dec 16 (BestGrowthStock) – Spain and Portugal should look to
calm market tensions by giving EU leaders details of structural
reforms they plan beyond existing deficit-cutting measures, euro
zone finance ministers’ chairman Jean-Claude Juncker said.

The Iberian countries “would do well today and tomorrow to
present in detail structural reforms to be introduced beyond the
plans of consolidation already announced,” he said in an
interview with Corriere della Sera published on Thursday.

Such details would help “clear up how they plan to put their
own (fiscal) house in order, and calm market turbulence”.

EU leaders kick off a two-day meeting later on Thursday at
which they will try to agree the next steps in tackling a
year-long debt crisis that threatens to engulf Portugal and
possibly Spain.

The summit would show the determination of the bloc’s
leaders to ensure financial stability, and the debt crisis was
bound to lead to closer integration and one day to joint bond
issuance, Juncker told Frances’s RTL radio in a separate
interview.

He said euro zone governments had no choice but to
consolidate public finances and he repeated his proposal,
opposed for the time being by Germany and France, for a shift
towards a degree of common sovereign bonds.

“We will show our desire to do everything to assure the
financial stability of the zone,” he said.

Meanwhile, Italy has no reason to be penalised by markets,
Juncker told the Italian daily.

Signs of strength were Italy’s approval of austerity
measures and efforts to improve its public accounts.
Centre-right Prime Minister Silvio Berlusconi survived a
no-confidence vote on Tuesday, aiding stability.

“From the political-financial point of view I see no reason
for Italy to be punished by the markets. Especially now that the
prospect of a government crisis is further away,” Juncker said.

(Reporting by Ian Simpson; Editing by John Stonestreet)

UPDATE 2-More Spain, Portugal reform details needed -Juncker