Germany’s Schaeuble and Spain’s Guindos met this afternoon and have just issued a statement.
- Quick implementation of the Spain’s bank bailout is needed
- Spain has taken important steps on the economy
- Spanish spreads don’t reflect fundamentals
- Important to work toward banking union
- June EU accords should be applied quickly
See, that wasn’t so hard!
Separately, the German finance ministry is making supportive noises about Spain.
- Government, Parliament back Spanish bank program
- Program important to break the vicious circle between banks and sovereigns
