LUXEMBOURG (MNI) – German Finance Minister Wolfgang Schaeuble said
Thursday he expected Spain to make a formal request for aid later in the
day and that he was “flexible” on future uses of EFSF/ESM funds,
including the possibility of directly buying up sovereign debt.
“Spain has said that it will make the request” as soon as it has
the results of the anticipated audits into its banking sector needs,
Schaeuble told reporters ahead of a meeting of EU finance ministers
here.
Schaeuble also said the EFSF/ESM treaties allowed for a number of
different types of interventions, so long as a country makes a formal
request for EU aid.
“That includes in certain circumstances the possibility to operate
in markets,” Schaeuble said. “We are flexible as to the specific
financing instruments, as we were with the banking recapitalization in
the case of Spain.”
Asked about additional steps that could be taken to calm market
fears, Schaeuble said the key was for Eurozone leaders to “clearly
communicate what has been decided … and for what has been decided to
be implemented.”
— Frankfurt bureau: +49 69 720 142; email: frankfurt@marketnews.com
[TOPICS: M$G$$$,M$X$$$,MGX$$$,M$$CR$,M$S$$$]
