Said Spanish Economy Minister Luis de Guindos that Spain will not rush to request additional help to finance its debt, he said, adding that Spanish banks will need about 60 billion euros to bring down the bad real estate assets from their books.
The de Guindos said in remarks carried by the Reuters news agency, that the efforts to reduce the deficit will remain within the government's priorities, which will be announced this week a draft budget plan for 2013 and new structural reforms and the results of stress tests for the ailing banking sector.
Spain is at the center of the euro zone debt crisis, which has now entered its third year and investors believe that the rising deficit and worsening debt and banking sector fell on the real estate bubble burst and deepen the economic downturn will force the Madrid eventually to seek assistance from abroad.
The government asked European line of credit worth 100 billion euros to recapitalize troubled banks in June and is in talks for weeks on a program of bond purchases by the European Central Bank and eurozone rescue Funds but is hesitant to concerns of difficult conditions.
De Guindos said when asked about the possibility of requesting such assistance in the next few days "It's not about saving Spain, but to ensure that the draft of the euro project for all. Spain will what they should be doing, but without haste".
Germany was the largest financier of the European Union said on Friday that Spain does not need to save the European, which is inconsistent with the French pressure on Madrid to get the help the European Central Bank.
De Guindos predicted that comes tolerance test results independently of the Spanish banking sector conducted by Oliver Wyman consultancy in line with preliminary estimates issued in June and volume of 60 billion euros.
He added that he will not be possible to monitor the untapped resources of the line of credit amounting to $ 100 billion euros for other needs such as government funding.
He told reporters after a meeting with party officials ruling People in Madrid "line of credit that we got is for banks only ... Sttalon on the results of the Oliver Wyman at the end of the week. Believe that it will not stray from the maximum, which appeared in its estimates first, or about 60 billion euros ".
The de Guindos said in remarks carried by the Reuters news agency, that the efforts to reduce the deficit will remain within the government's priorities, which will be announced this week a draft budget plan for 2013 and new structural reforms and the results of stress tests for the ailing banking sector.
Spain is at the center of the euro zone debt crisis, which has now entered its third year and investors believe that the rising deficit and worsening debt and banking sector fell on the real estate bubble burst and deepen the economic downturn will force the Madrid eventually to seek assistance from abroad.
The government asked European line of credit worth 100 billion euros to recapitalize troubled banks in June and is in talks for weeks on a program of bond purchases by the European Central Bank and eurozone rescue Funds but is hesitant to concerns of difficult conditions.
De Guindos said when asked about the possibility of requesting such assistance in the next few days "It's not about saving Spain, but to ensure that the draft of the euro project for all. Spain will what they should be doing, but without haste".
Germany was the largest financier of the European Union said on Friday that Spain does not need to save the European, which is inconsistent with the French pressure on Madrid to get the help the European Central Bank.
De Guindos predicted that comes tolerance test results independently of the Spanish banking sector conducted by Oliver Wyman consultancy in line with preliminary estimates issued in June and volume of 60 billion euros.
He added that he will not be possible to monitor the untapped resources of the line of credit amounting to $ 100 billion euros for other needs such as government funding.
He told reporters after a meeting with party officials ruling People in Madrid "line of credit that we got is for banks only ... Sttalon on the results of the Oliver Wyman at the end of the week. Believe that it will not stray from the maximum, which appeared in its estimates first, or about 60 billion euros ".
ليست هناك تعليقات:
إرسال تعليق