Photo: Financial crisis in Spain
A European Finance Minister has categorized Spain’s fiscal position as ‘improved’ and therefore not in the need of a bailout like Greece, Ireland and Portugal have sought.
Belgian Minister Didier Reynders stated Spain was showing “a very good improvement” and was sure that it was sufficient. This sentiment is the exact same as the Spanish Finance Minister Elena Salgado who, earlier in the month, said a financial bailout was “completely out of the question.”
Last week Portugal sought an international bailout as had Greece and Ireland earlier in the year.