 |
| The Spanish Prime Minister, Mariano Rajoy, speaking after the cabinet meeting today |
Aug 3, 2012 - 2:37 PM
The Prime Minister said he had not decided on a rescue as yet.
The Risk Premium has relaxed slightly after Thursday’s speech by Mario Monti disappointed the markets. It’s now back below 600 points. The interest on a ten year bond is 7.15% and the Stock Market opened down but then rose, and at 3pm it was back up 3.70% at 6,609.3.
Mariano Rajoy made statement after the regular Friday cabinet meeting, and said ‘We have been living with too much credit’ and he admitted, ‘I have not taken a decision.’ (on the rescue). The Prime Minister described a bleak landscape with more than 900 billion € in debt and where 8 billion of interest payments have to be met next year.
‘I ask that they help me in the European battle’, he said and he had no intention to reduce pensions next year. That is last thing to be touched’.
Rajoy also said his main concern is for what the unemployed are going through with their families.
‘We take uncomfortable and unpleasant measures to improve’, he said.
The President of Castilla-La Mancha and General Secretary of the PP, Maria Dolores de Cospedal, has denied that Spain needs a rescue, and she called on the ECB buy debt from countries like Spain and Italy, as the money it is costing them to finance themselves ‘does not respond to reality’.
Comment:
John
4-8-2012 19:26
That last sentence isn't quite what Rajoy
said: "CON LOS DATOS QUE YO TENGO NO TENGO LA INTENCIÓN DE bajar las
pensiones". He has to cover his back for when he does lower them!
