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

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza