Spanish Prime Minister Mariano Rajoy on Tuesday said he had no plans to raise value-added-taxes nor were there plans afoot to create a "bad bank" to house poorly performing banking assets.
Rajoy made the comments in an interview with state-owned news agency Efe, saying he would face up to responsibilities in tackling Spain's economic and budget woes, and not try to hide.
Regarding the recently announced austerity measures, Rajoy said there was no other choice, saying it was "fundamental for the credibility of the country," and its ability to get outside financing.
He said he believes that Spain's welfare state is out of danger.
"But to maintain it we need money, economic growth and employment."
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