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Spanish bailout 'impossible' for eurozone, says prime minister Mariano Rajoy
13 April 2012 @ 02:48

The eurozone is not equipped to bail out Spain, the country's prime minister Mariano Rajoy has admitted, as global traders continued to punish the nation's stocks and bonds.

Mr Rajoy said it was "not possible to rescue Spain" but insisted his country did not need a Greek-style international bail-out anyway.

"To talk about a bail-out for Spain at the moment makes no sense," he told reporters. "Spain is not going to be rescued; it's not possible to rescue Spain, there's no intention to, it's not necessary and therefore it's not going to be rescued."

Despite his comments, the Madrid bourse fell and the yields on the country's benchmark bonds remained stubbornly high. While other European markets soared on Thursday following strong gains in America, Spain's Ibex index lost 0.5pc.

Read the full article at The Telegraph



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3 Comments

midasgold said:
14 April 2012 @ 09:45

Spain will NEVER be able to balance it's books while in the euro zone.Politicians are not being honest ( as is the norm) ,it is only a matter of time before the proverbial hit the fan.


Bill Hallett said:
14 April 2012 @ 11:21

With 110,000 UK property problems in Spain and no resolution by the gov of Spain the EU would be blocked to send Money to Spain,
it would not be used in the correct way and simply stolen.
The UK has demanded through the EU that problems are sorted out ,(look up Marta Andreason on youtube,)and the Spanish have so far refused, the courts of Tarragona have hard Evidence against them after Taking 80,000euros from a UK family in cash totaly illegaly, then trying to cover it up,and abducting one of the family involved(written in as wrongful arrest) this is just 1 reason Spain will get no funds, the British have invested in Spain and the Spanish courts sadly see the UK as scum on the whole with no human rights.
The public seem to want Franco back, sadly for the good millions they will also get his ecconomy.



Marilyn said:
15 April 2012 @ 17:15

I really do not know much about Spanish politics, what I do know is that the country has went from a lively, friendly prosperous society to a cynical, untrusting unrespectful one something that I never thought would ever happen, yes ok there were problems with corruption, but the people never felt it as they were prospering in every way, through there hard work. those who do have a job now can work 24/7 but will never prosper because the ingredient they need to do that has gone the tourist and the Brits who want to come and buy the properties and move to Spain to live and work,but as things are they are wary to go on holiday never mind invest there and risk all.
I love the Country and as long as we go abroad to holiday it will be Spain. We are a lot more security aware when walking about which is a shame, but we have a lot of friends there Spanish and Brits just as well or it would be a poor holiday Costa del Sol is like a ghost town.
GET OUT OF THE EUROZONE SPAIN AND BACK TO YOUR ROOTS WITH THE PESETA LEADING THE WAY AND DO WHAT YOU DO BEST MAKING HOLIDAY MAKERS OF ALL NATIONALITIES VERY HAPPY AND RELAXED YOUR ECONOMY WILL FLY AGAIN WITH THE GRIT I KNOW YOU HAVE!!!


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