tommy271
Forumer storico
ECB Mersch: Suggests That Spain Will Not Need Bailout: Press
BERLIN (MNI) - Spain is not in the same class as the troubled peripheral trio of Greece, Ireland and Portugal, European Central Bank Governing Council member Yves Mersch said in a German newspaper interview released Tuesday afternoon.
Asked by the Frankfurter Allgemeine Zeitung whether he thought Spain would need a bailout, Mersch replied: "In Spain we have a different case. Spain has a much lower public debt than Greece, Ireland and Portugal."
He also dismissed recent market speculation, fueled by numerous media reports, that Greece is on the verge of having to restructure its sovereign debt because its austerity plan, as draconian as it is, won't cut the debt/GDP ratio to a sustainable level.
"You are saying [the plan] won't work," Mersch told the paper. "However, in the concerned countries there are parliamentary decisions to stick to the [agreed upon austerity] programs. To say that these democracies don't have the goal of meeting their commitments is unfair."
Mersch also said that the ECB has "the mandate to assure price stability over the medium term [and] we won't compromise on this mandate."
(imarketnews.com)
BERLIN (MNI) - Spain is not in the same class as the troubled peripheral trio of Greece, Ireland and Portugal, European Central Bank Governing Council member Yves Mersch said in a German newspaper interview released Tuesday afternoon.
Asked by the Frankfurter Allgemeine Zeitung whether he thought Spain would need a bailout, Mersch replied: "In Spain we have a different case. Spain has a much lower public debt than Greece, Ireland and Portugal."
He also dismissed recent market speculation, fueled by numerous media reports, that Greece is on the verge of having to restructure its sovereign debt because its austerity plan, as draconian as it is, won't cut the debt/GDP ratio to a sustainable level.
"You are saying [the plan] won't work," Mersch told the paper. "However, in the concerned countries there are parliamentary decisions to stick to the [agreed upon austerity] programs. To say that these democracies don't have the goal of meeting their commitments is unfair."
Mersch also said that the ECB has "the mandate to assure price stability over the medium term [and] we won't compromise on this mandate."
(imarketnews.com)