No sign that Spain needs emergency aid: Juncker

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Jean-Claude Juncker, head of the eurogroup of finance ministers, said Wednesday he had seen no indication that Spain needs a financial bailout, contrary to press reports.

"I don't have any indication that Spain will be in a position where it has to ask," for the emergency funds set up to help eurozone nations in crisis, Luxembourg Prime Minister Juncker said on the margins of a meeting with fellow European centre-right leaders near Brussels.

"Spain is taking very serious, very courageous measures," he added, on the eve of a European Union summit in the Belgian capital.

Spanish business daily El Economista reported Wednesday that the IMF, the EU and the US Treasury had drawn up a liquidity plan for Spain including a credit line of up between 200 and 250 billion euros.

Both Madrid and the EU Commission have denied the report.

© 2010 AFP

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