Spain does not need full bailout: economy minister

International

Spain does not need full bailout: economy minister

July 23, 2012 01:34 PM

By Atallah al-Salim

A file photo taken on June 22, 2012 shows activists from the "Yayoflautas" movement staging a protest after an occupation at the German Consulate in Barcelona. AFP PHOTO / JOSEP LAGO

MADRID: Spain does not need a full bailout, the economy minister said Monday even as its long-term borrowing costs soared dangerously higher and figures showed the economy shrinking even faster.

Asked by journalists if he ruled out the possibility of a full bailout, after a 100 billion euro EU deal on the banks was agreed Friday, Luis de Guindos said: "Of course."

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