Thursday, August 30, 2012
How Do You Say "Huh" in Spanish?
Spain will delay deciding whether to seek a sovereign bailout until the aid conditions are clear, Prime Minister Mariano Rajoy said following a meeting with French President Francois Hollande.But Draghi had said that ECB help would be contingent on Spain and Italy going through the two funds (ESM coming up in September), and therefore contingent on the countries accepting those terms.It really sounds like Rajoy is still trying to evade that necessity - he wants ECB to launch a new bond-buying program separately, which is not what was announced.
The two chiefs, who held talks in Madrid today, pressed the European Central Bank to implement decisions from a June summit to reduce borrowing costs in Spain and Italy as euro-area policy makers struggle to enact an emergency plan.
Links to this post: