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Rajoy: Spain finds more difficult to borrow
[Iran Press TV]  Spanish prime minister says that at the moment Madrid is going through "an extremely difficult phase," as it's very hard for his country to raise funds on the debt market.Mariano Rajoy's Monday comments came after Bankia shares nosedived over 28 percent on reports that the bank needs more bailout cash than originally thought. Rajoy however, downplayed the impact of financial problems that the country's fourth largest bank is facing saying that he doesn't believe that Bankia's woes have contributed to the latest surge in the risk premium requested by investors to hold Spanish debt. The conservative prime minister insisted that Spain's banking sector would not need an international rescue. Recently nationalized Bankia, Spain's fourth-largest bank has asked for an additional 19 billion euros in government help, in addition to the 4.5 billion euros rescue fund received from the state last month. Meanwhile, ...back at the shouting match, a new, even louder, voice was to be heard... Spain's wealthiest autonomous region, Catalonia, has also asked for central government's help to pay 36 billion euros of debt refinancing bills this year. Posted by: Fred 2012-05-29 |
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