Spain is in no rush to secure EU rescue plan
SPAIN has time to wait for clarity on what a full European rescue would involve as it has already covered the majority of its debt needs for the year, economy minister Luis de Guindos said in a newspaper interview published yesterday.
“We will find out the details and then we will draw up a precise calendar,” de Guindos said when asked by ABC newspaper if Spain would ask for aid in September. “We’ve got time … the Treasury is financing itself relatively well in the market, given the circumstances.”
Prime Minister Mariano Rajoy signalled for the first time on Friday that he may yet seek a full-blown aid package. The Spanish government said it had submitted its budget plan for the next two years to the European Commission, pledging to save €102bn. (£80.7bn).