BELGIUM: Spanish Finance Minister Luis de Guindos says Spain is not seeking immediate bank aid

Record ID: 830983

  • Title: BELGIUM: Spanish Finance Minister Luis de Guindos says Spain is not seeking immediate bank aid
  • Date: 7th June 2012
  • Summary: BRUSSELS, BELGIUM (JUNE 6, 2012) (REUTERS) EXTERIOR OF EUROPEAN PARLIAMENT, EU FLAGS SPANISH AND GREEK FLAGS INSIDE EUROPEAN PARLIAMENT, SPANISH FINANCE MINISTER LUIS DE GUINDOS ARRIVING (SOUNDBITE) (Spanish) SPANISH FINANCE MINISTER LUIS DE GUINDOS SAYING: "I have absolutely not discussed any intervention in Spain's banks today. I was talking about the economic policy that the Spanish government has been applying, which naturally is a policy of austerity, a policy of economic reforms, it's a policy that aims to go back to economic growth which for the moment is difficult for Europe. Of course what we are saying is that with more Europe we would with no doubt get out of this difficult situation, this crisis. This is the message we wanted to send today." DE GUINDOS SURROUNDED BY JOURNALISTS (SOUNDBITE) (Spanish) SPANISH FINANCE MINISTER LUIS DE GUINDOS SAYING: "First of all, in a few days, on June 11, we will get the report from the International Monetary Fund into Spain's banking sector which will present in a very clear manner that the problem of Spanish banks is deposits within certain entities as already assessed correctly by the Spanish government. After that, in no more than 10, 15 days we will get the two reports from the independent auditors. Those reports will be a global analysis of the situation of Spain's banking sector, which we are certain will be very similar to that of the International Monetary Fund. From there the Spanish government will take the decisions it has to take in terms of recapitalising the institutions." DE GUINDOS SURROUNDED BY JOURNALISTS (SOUNDBITE) (Spanish) SPANISH FINANCE MINISTER LUIS DE GUINDOS SAYING: "I will repeat: there was not a single question about an eventual rescue. We have been asked about the situation of Spanish banks and I presented what I just said. I presented the roadmap just as I told you." MICROPHONES OUTSIDE, SCULPTURE SHOWING THE SYMBOL OF EURO CURRENCY SYMBOL OF EURO CURRENCY AND FLAGS
  • Embargoed: 22nd June 2012 13:00
  • Keywords:
  • Location: Belgium
  • Country: Belgium
  • Topics: International Relations,Economy,Politics
  • Reuters ID: LVA3IYECM7M4K3QBCRJFXVJPT1N6
  • Story Text: Spanish Economy Minister Luis de Guindos said on Wednesday (June 6) there were no immediate plans to request a bailout of Spain's banks, with the results of an audit of the banking sector needed before any further steps are taken.
    "I have absolutely not discussed any intervention in Spain's banks today. I was talking about the economic policy that the Spanish government has been applying, which naturally is a policy of austerity, a policy of economic reforms, it's a policy that aims to go back to economic growth which for the moment is difficult for Europe. Of course what we are saying is that with more Europe we would with no doubt get out of this difficult situation, this crisis. This is the message we wanted to send today," De Guindos told reporters on the sidelines of meetings in Brussels.
    De Guindos said Spain was waiting for the results of an IMF report into the banking sector, due on June 11, and then further reports from independent auditors.
    "From there the Spanish government will take the decisions it has to take in terms of recapitalising the institutions," De Guindos said.
    Asked if Spain was preparing a request for EU aid, he said an eventual rescue was not even discussed.
    De Guindos plans to meet EU Competition Commission Joaquin Almunia and French Finance minister Pierre Moscovici later in the day.
  • Copyright Holder: REUTERS
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