Spanish EU chair hopes deal will 'end battle' with speculators

10th May 2010, Comments 0 comments

Spain's foreign minister Miguel Angel Moratinos, whose country currently holds the EU chair, said Monday a trillion-dollar deal to rescue euro countries was one in the eye for speculators.

"I hope that this will mean the end of the battle" against speculators, Moratinos said as European Union foreign ministers gathered for planned talks in Brussels, with markets surging on the back of the news.

As one of the countries most at risk after Greece, Spain hopes the deal, officially running to more than 750 billion euros with IMF input and central bank backing around the world, will represent a game-changing financial war chest.

It is a reply to "all those who try to drag down the economic and financial situation in the EU," he stressed.

© 2010 AFP

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