The European Union has the available mechanisms ready if Spain needs to request financial assistance to help deal with its borrowing concerns, France’s finance minister said, praising the “determination” in Greece to see through another round of tough reforms.
“Spain will have to make its own decision. It’s a matter of sovereignty, but now all tools are available, if there is a demand from Spain,” Pierre Moscovici said on a visit to Athens.
EU Finance Ministers will meet in Cyprus on Friday and are expected to discuss concerns of Spain’s troubled public finances as well as Greece’s efforts to meet tough commitments set by rescue lenders.
Moscovici, who met with conservative Prime Minister Antonis Samaras and top Greece finance officials, said implementation of planned cost-cutting reforms in Athens would determine whether it receives any concessions from emergency lenders.
via Mainichi
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.