No conditions on Spain in bank bailout, says De Guindos

Date: Wednesday 27 Jun 2012

Spanish Finance Minister Luis De Guindos spoke at the Congress of Deputees on Wednesday morning and said that it is time for Spain to take decisive economic measures.

He said that this week's European Summit will set the groundwork for a common policy behind the euro. "Spain will make important contributions," he said.

In preparation for the summit, De Guindos met with the German, French, and Italian finance ministers on Tuesday and will next hold a video-conference on Wednesday with Eurogroup members.

In response to a question on the bank bailout from a Socialist party member, De Guindos answered that conditions will only be placed on banks receiving the aid and not on the Spanish government.

De Guindos added that the good news will begin to arrive sooner rather than later. He listed some existing positive news, such as the improvement in the trade balance, the current account balance, and the correction of the housing bubble.

MD

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