(MENAFN) Spain's Minister of Economy and Competitiveness, Luis de Guindos, stated that at the current time, the country will not ask for a financial aid from the European Central Bank (ECB), as there is no need for a bailout, reported Xinhua News.
Nevertheless, De Guindos, who didn't say whether Spain would ask for a bailout in the future or not, said that in case his government asked for help, it wouldn't be the same way as Portugal or Ireland.
The minister noted that if doubts over the euro's future vanish, then, the Spanish risk premium would decline, which would be good news for both the country and Europe.
Moreover, he indicated that the ECB would interfere in the country's debt market to lower funding costs, something it already did last year when it had acquired Spanish debt between August and December 2011.
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