In an interview, ECB policymaker Ewald Nowotny affirmed that Spain is currently in a position where it can easily get new financing for its debts by introducing different terms in markets.
Further Nowotny suggested that reports regarding its situation point out that that the country currently needs no aid from European Central Bank's new bond-buying programme. Rather, before asking opting for the programme, it should try to refinance itself as it doesn't face similar structural challenges as faced by Greece.
Previously, ECB launched its bond-buying programme for those euro zone countries, which demand financial help, however, the decision to opt for the programme completely depends upon the country, as the programme includes several stern terms and conditions.
Nowotny emphasizing on the new euro zone's permanent bailout fund, European Stability Mechanism, stated that he would like to assess it before hand, as he is concerned that the fund, instead of making problems simpler will worsen the conditions for the countries as they will have to wait for payouts.
He said, "The cannon will be loaded in time. The question is only will it really go off when it is needed? The decision mechanisms are so many and difficult that there is certain skepticism".
Today's popular content
- Repsol board sanctions dividend cut
- Spanish economy finally returns to growth
- Traffic at Gibraltar-Spain border now flowing normally
- Spain is ‘a Level above the Rest’ for Next Summer’s World Cup: Brazilian Defender Marcelo
- 7.2 Billion Euros deal by Vodafone to purchase Ono in Spain
- Pollutants Changing Male Fish in Rivers of Basque Country
- eDreams Odigeo Witnesses drop on Opening-Day of IPO
- Queen of Spain to Sue Dating Site over Using Her Image in Offensive Way
- Spanish Banks Want to Lend to SMEs Again
- ‘Dragon’ corpse mystifies experts