Spanish news agency Efe quoted as saying of the country's economic Minister Louis Dejinduosi, on the 18th, the ECB must take strong measures, no restriction in the operation of the future purchase of sovereign debt, to help Spain to reduce the cost of financing and clear against the euro area in the future concerns.
Dejinduosi said to EFE, the European Central Bank in the secondary market to buy the national debt of heavily indebted poor countries should not set limits on the funding scale and duration of Dejinduosi said the eurozone meeting, in mid-September by the European Central Bank debt purchase program, before deciding whether to apply for relief, the Spanish government will study the other details.
According to Reuters, the Spanish Prime Minister of Khajuraho has been confirmed according to previously, the Government will proceed to study the ECB and the EU out of the relief conditions, and then decided whether to apply for relief.
September 6, German Chancellor Angela Merkel will go to Madrid with Spanish Prime Minister Rajoy meeting, there is news that some difficulties in the two sides will rescue the details of the final consultations.
Dejinduosi said that Spain has European leaders to show their own efforts, we have announced a budget adjustment and structural reform program, these practices have been recognized. Earlier this year, Rajoy announced that the scale is equivalent to 10 percent of Spanish gross domestic product (GDP), fiscal austerity program, and promised before the end of 2014, the budget deficit to GDP ratio fell to 2.8%.
Euro Group announced in early June, the Government of Spain a formal request for the Spanish banking sector, not more than 100 billion euros of bailout funds. So far, Spain has not yet formally proposed to the EU aid application. Some market analysts believe that the view of the situation from deteriorating further, Spain formally proposed aid application at hand. It is reported that the Spanish government confirmed late on the 17th, "soon" will be a formal application to the Spanish banking sector by the European financial stability tools (FSF) allocation of the first aid loans.
However, the market is generally worried that Spain has been upgraded to another center of the European debt crisis, its expected to apply for the ? 100 billion bank bailout loans can ease the banking industry dilemma, but in addition to European stability mechanism, still the European Central Bank played in the rescue operation an important role in Spain and other countries to restart the bond purchase plan to help drive down bond yields, inhibit the further deterioration of the debt situation.
Internal views can not be unified European Central Bank is also not contribute much, has lasted 22 weeks did not purchase the the national debt of heavily indebted countries, Spain, Italy and other heavily indebted countries complain incessantly. Fortunately, the European Central Bank President Mario Draghi said on the 2nd of this month, euro area Member States aid application and accept the conditions of the rescue out, that the bank will buy the applicant country's sovereign debt to ease its debt crisis. Just last week, the original plan to the European Central Bank to purchase debt critics Germany has also changed, Chancellor Angela Merkel openly expressed support for the the Drudge recommended conditional debt purchase plan, the market saw more hope.
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