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Spain says no resistance in euro zone to an aid request

Source: Reuters - Fri 12th Oct 2012
Spain says no resistance in euro zone to an aid request

Spain's economy minister said on Friday there was absolutely no political resistance from within the euro zone to a Spanish bailout request.

Asked if Spain wanted more political clarity rather than technical details before taking a decision on an aid request, Economy Minister Luis de Guindos said: "absolutely not."

"There was no pressure, in one sense or in the other," he said.

Speaking to journalists on the sidelines of the International Monetary Fund and World Bank annual meetings, he said that any Spanish move on seeking an international programme would not depend on rating agency moves.

De Guindos also said that if the economic forecast that the European Commission releases in November showed that the recession was deepening, it could lead Spain to revise its nominal budget deficit targets, while leaving unchanged its structural deficit-cutting efforts.

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