Merkel: Spain has not requested EU bailout aid

8th June 2012, Comments 0 comments

German Chancellor Angela Merkel Friday said that Spain had not yet requested funds from the EU bailout pot to come to the aid of its stricken banks and that only the Spanish government could do so.

Speaking after talks with the prime minister of New Zealand, John Key, Merkel said: "It has always been clear that countries that would like to benefit from solidarity must themselves make an application."

"We have everything we need for a stable eurozone and it is up to the individual countries to come to us. That has not happened," the chancellor added.

Germany would not be applying any pressure on any country to seek aid from European funds, Merkel said amid reports that Spain was poised to request cash from the bailout pot to recapitalise its debt-wracked banks.

She gave no reaction to the reports and her spokesman Steffen Seibert had earlier told a regular government news conference: "My comment on these reports is that I have no comment."

Germany is steadfastly against the possibility of banks themselves accessing the European bailout pot, insisting that states hosting the banks must apply for aid.

"The usual procedure applies. A state makes an application and accepts the conditions that come with it. But, as I said, the decision to do this can only be made by the Spanish government," Seibert said.

© 2012 AFP

0 Comments To This Article