European Council President Hopeful about Spanish Aid

Herman Van Rompuy the President of the European Council visited Spain to hold talks with the Spanish President and discuss the possibility of granting aid to the crisis hit country. Van Rompuy continues to toe the European Leadership line and took this as an opportunity to stress the need the keep Greece in the Eurozone.

Talking about Spain he mentioned the aid could be triggered as soon as it is formally requested.

Spanish President Mariano Rajoy held talks with European Council President Herman Van Rompuy on Tuesday in Madrid. During a press conference following the meeting the Spanish leader stressed the importance of finalizing the construction of the EU banking union by the end of 2012. He also said that Greece’s exit from the Eurozone would be a failure for entire Europe.

Van Rompuy praised the determination with which Rajoy’s government was introducing reforms and assured that the EU was prepared to grant a bailout for Spanish banks as soon as a formal request was submitted.

When asked about Catalonia’s earlier petition for 6 billion euros in regional bailout funds, Rajoy assured that such aid would be provided.

via Nasdaq

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.