Spain says won’t be next bailout claimant after Portugal

Spain distanced itself from Portugal’s request for financial assistance from the European Union, insisting on Thursday it is “not at risk” of seeking a similar bailout.

“Spain is not at risk at all after Portugal has asked for a rescue,” Finance Minister Elena Salgado told Spanish National Radio.

She emphasized that the Spanish economy was “distinct” from Portugal’s as it is “larger, more diversified and more productive.”

Also, the Spanish government’s economic reforms are “deeper” and carried out “at a faster pace” than in Lisbon.