(ANSAmed) - Madrid, MAY 28 - It is necessary that the EU "gives
a strong and clear message concerning the euro", to eliminate
any doubts regarding its situation. This is the appeal sent out
today by the Spanish Prime Minister Mariano Rajoy. His first
press conference since taking office, Rajoy justified the
government's intervention to nationalise Bankia because "the
alternative was failure". The PM did not explain in detail what
the recapitalisation process will be : "We still haven't taken
any decision regarding the mechanism to inject money into
Bankia", whose safety will cost overall 23 billion euros, the
most expensive plan put forward in Spain until now.
Concerning the inquiry into the responsibilities of the former managing of the fourth Spanish financial group, born from the fusion of seven banks, and after having spoken of Caixa Catalunya or Caja Castilla-La Mancha, Rajoy excluded the naming of an inquiry and reminded that the issue is being handled by the Congress' sub-committee for Economy, created during the past legislature. The PM pointed out that with the current risk differential of Spanish debt at 500 points "it is very difficult to finance oneself" and asked Europe to solve the problem concerning debt sustainability and dissipate every doubt surrounding the euro, "making it clear that it is an irreversible process". In this moment of "extremely difficult economic crisis", according to the PP leader it is "urgent and necessary" to make a "clear, precise and energetic choice capable of dissipating any doubts surrounding the euro". This is also the reason why he wished for greater fiscal integration, monetary and political, fundamental for the future of Spain.
"The problem is our monumental foreign debt and which has to be refinanced", he observed. If the spread is at 500 points "it is very difficult", he concluded. (ANSAmed).
Concerning the inquiry into the responsibilities of the former managing of the fourth Spanish financial group, born from the fusion of seven banks, and after having spoken of Caixa Catalunya or Caja Castilla-La Mancha, Rajoy excluded the naming of an inquiry and reminded that the issue is being handled by the Congress' sub-committee for Economy, created during the past legislature. The PM pointed out that with the current risk differential of Spanish debt at 500 points "it is very difficult to finance oneself" and asked Europe to solve the problem concerning debt sustainability and dissipate every doubt surrounding the euro, "making it clear that it is an irreversible process". In this moment of "extremely difficult economic crisis", according to the PP leader it is "urgent and necessary" to make a "clear, precise and energetic choice capable of dissipating any doubts surrounding the euro". This is also the reason why he wished for greater fiscal integration, monetary and political, fundamental for the future of Spain.
"The problem is our monumental foreign debt and which has to be refinanced", he observed. If the spread is at 500 points "it is very difficult", he concluded. (ANSAmed).
