Spanish Treasury Minister Cristobal Montoro on Tuesday said that given current borrowing costs, financial markets had effectively shut out the country
Montoro made the comments in an interview with Onda Cero radio, according to media reports
"The risk premium says Spain doesn't have the market door open
The risk premium says that as a state we have a problem in accessing markets, when we need to refinance our debt," he reportedly said
Montoro also said Spanish banks don't need "excessive" amounts to recapitalize, and also ruled out a full rescue for Spain
He said European institutions need to "open up and help us achieve, help facilitate that figure because we're not talking about astronomical figures," according to Bloomberg News
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Francia ve necesaria una solución de la UE para crisis bancaria de España
Europa debe encontrar una solución a la crisis bancaria española que no suponga incrementar un ya abultado déficit presupuestario de Madrid, dijo el martes el ministro francés de Exteriores, Laurent Fabius, reiterando el respaldo de París a una unión bancaria europea completa. Tenemos que encontrar mecanismos, métodos, para tener los fondos necesarios para permitir que el sistema siga funcionando adecuadamente sin incrementar el déficit presupuestario español, o de otra manera no iremos a ningún sitio, dijo Fabius en una rueda de prensa en Roma.
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