Domani il parlamento tedesco dovrebbe approvare l'aiuto alle banche spagnole. Il mercato continuerà a rimanere indifferente o quasi?
July 18, 2012, 7:39 a.m. ET
German Fin Min: Spanish Aid is Not Unacceptable Risk for Germany
By William Boston
BERLIN--German Finance Minister Wolfgang Schaeuble on Wednesday sought to dismiss fears that a 100 billion euro ($122 billion) rescue package for Spanish banks could hurt German taxpayers, the day before Germany's parliament is due to approve the aid.
In a government interview distributed via YouTube, Mr. Schaeuble said the aid for Spain "does not pose an unacceptable risk for Germany," adding: "There are no disadvantages for Germany from the Spanish aid."
European leaders have approved in principle loans to Madrid of up to EUR100 billion to allow the Spanish government to refinance its savings banks which were hit hard by the Spanish property crisis. Germany's parliament must approve the aid and is holding a special session on Thursday to vote on the issue.
Mr. Schaeuble insisted that there would be conditions on the aid, which Spain will have no trouble fulfilling. He also said Spain must not only refinance its banks but also restructure the sector to prevent the crisis from spreading.
"I am completely certain that Spain will always be able to fulfill its commitments," he said, adding that it is in Germany's interest to keep the euro stable. The goal of providing aid to Spain "is to eliminate volatility in the markets."