Spain euro crisis: Rajoy rejects bailout conditions

Spain’s Prime Minister Mariano Rajoy has said he will not accept outside conditions over a possible bailout.  Mr Rajoy made the pledge in his first television interview since taking office. But he said no decision to request a bailout had been taken.

Last week, the president of the European Central Bank (ECB) unveiled plans to buy bonds from indebted countries – under bailout conditions.  Mario Draghi said the ECB would provide a “fully effective backstop”.

The aim of the programme was to cut the borrowing costs of debt-burdened eurozone members by buying their bonds.   The Spanish government’s implied borrowing costs fell sharply after the announcement.

via BBC

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