Premier: Spain urgently needs financing, liquidity


French President, Francois Hollande, centre, reacts with Spain's Prime Minister, Mariano Rajoy prior to their meeting at the Elysee Palace, Paris, Wednesday, May 23, 2012. (AP Photo/Jacques Brinon)

PARIS (AP) — Spain's prime minister says his country urgently needs financing and liquidity and can't continue much longer with its current high borrowing rates.

Mariano Rajoy, speaking in Paris, suggested the European Central Bank resume some of its emergency measures, such as buying the bonds of weak countries, which has the impact of lowering countries' borrowing rates.

At his side, France's new President Francois Hollande said he will push at his first EU summit later Wednesday for eurobonds. Such bonds issued jointly would also aim at bringing down borrowing rates, but Germany is opposed.

Rajoy said he doesn't think the 27 EU leaders meeting in Brussels will resolve the eurobond dispute Wednesday.

Hollande also insisted he would stick by his push for a Europe-wide growth pact by the end of June.
Associated Press
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Join the Conversation!

While WVLT allows comments on articles, we ask that you respect the online community. Comments may be removed at any time for violations including:

  • Obscenity, profanity, vulgarity, racism, violent descriptions, name-calling or personal attacks.
  • Abuse of multiple accounts.
  • Off-topic comments.

Comments may be checked for inappropriate content or rule violation, but the station is under no legal obligation to monitor or remove comments. If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator. 
Flagging does not guarantee removal.

powered by Disqus


6450 Papermill Drive Knoxville, TN 37919 Phone - (865) 450-8888; Fax - (865) 450-8869
Copyright © 2014 WVLT-TV Inc. - Designed by Gray Digital Media - Powered by Clickability 153085595 -
Gray Television, Inc.