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
- Spain, SA and UN Security Council Condemn Monday’s Abuja Bomb Attack
- Bank of Spain Denies Plans of Stress Test
- Imperial Tobacco to Shift Production of Gauloises and Gitanes to Spain from France
- Fitch Ratings for NCG Banco: Mix of Good and Bad
- Ronnie Wood’s Stepson Jamie Claims there is still a ‘Question Mark’ over L'Wren Scott’s Death
- Residents of CastrilloMatajudios to Vote for changing Village's Name
- ‘Dragon’ corpse mystifies experts
- Spain Needs 10 Years to Return to Normal Unemployment Level
- Madrid to Open Gay and Lesbian Retirement Home