“Europe has to dissipate any doubts about the Euro,” the premier told a hastily called news conference in Madrid. It “must affirm that the Euro is an irreversible project and act in consequence.”
Spain is trying to shore up its banks and help cash-strapped regions while its own borrowing costs compared with Germany’s are the highest since the creation of the Euro.
As Spain’s narrowing market access depends on domestic lenders financed by the European Central Bank, the government is considering using public-debt securities rather than cash to fund the 19 billion-Euro bailout of BFA-Bankia.
Read more: Spain calls on Europe for a show of force “to dissipate any doubts about the Euro” — MercoPress
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