Spain: Mariano Rajoy seeks bail-out details
Spanish prime minister Mariano Rajoy inched closer yesterday to asking for a EU bail-out for his country, but said he needed first to know what conditions would be attached and what form the rescue would take.
His comments, at his first post-cabinet meeting news conference since taking office last December, came a day after the European Central Bank (ECB) signalled it was preparing to buy Spanish and Italian bonds but only after EU bail-out funds were triggered and countries had asked for help.
A source said separately that Spain would not decide whether to apply for several weeks.
Buying bonds and providing aid would all be designed to bring down what have been prohibitive borrowing costs in the indebted countries.
Mr Rajoy said he was ready to do what is best for Spain, going far further than he did on Thursday when he three times declined to say whether he would seek the aid..
“We still don’t know what these measures are,” he said yesterday, referering to a comment by ECB president Mario Draghi that the bank was examining non-conventional measures to defend the euro.
“What I want to know is what these measures are, what they mean and whether they are appropriate. I have still not taken any decision.”
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Friday 24 May 2013
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