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Home News Spain will not seek international financial aid

Spain will not seek international financial aid

Published on 06/12/2010

Spain's troubled economy will not follow Greece and Ireland in seeking international financial aid, Finance Minister Elena Salgado said in a newspaper interview published Monday.

Following weeks of market turbulence triggered by fears that Spain could be next in line for a financial debacle, Salgado emphatically ruled out Madrid taking a bailout.

“No”, she told Les Echos business newspaper, “becaue our (economic) fundamentals do not justify it.”

Greece fell to major imbalances in its public accounts not only due to the crisis while Ireland’s troubles “were caused by its banks,” she added.