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Spain doesn't need int'l financial rescue: Minister  Join our daily free Newsletter

MENAFN - 06/11/2012

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(MENAFN) Spain's Economy Minister, Luis De Guindos, stated that his country doesn't need any international financial rescue at the current time, reported Xinhua News.

Guindos said that for this year, Spain's treasury is well financed, so there will be no need for international support to help pay Spanish debt.

He stressed that no body demanded Spain, which is undergoing its second recession in the last 3 years, to ask for a rescue loan, stressing that his country could not accept such requests or pressures.

Several European sources confirmed that the debt-ridden country could request a bond-buying program from the European Central Bank (ECB) to clean its finances.

It is worth noting that the ECB has approved a loan for up to USD125 billion to support the country's faltering banking system, as a number of financial institutions in Spain recognized lack of liquidity in the first half.

 






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