Business View

The Spanish prime minister, Mariano Rajoy, now entrusted to the European summit which starts this afternoon in Brussels to take “any decision” to lower the cost of financing in the markets of Spain.

“Right now the price of credit to Spain is obviously very expensive and I think the European Union and the Economic and Monetary Union must be aware that this is so, and that a decision must be taken,” said Rajoy on arrival at a previous meeting of the European People’s Party (EPP).

Asked about the option of a direct recapitalization of Spanish banks, the chief executive has said it is “one of the possibilities that are open,” but stressed that this issue not be resolved today.

The Prime Minister has insisted that the resolution of the problem of “debt sustainability” is “fundamental” and assured that any other measure “is useless if we can not fund.”

“We financing at prices too high and there are many Spanish public institutions can not even funded. This is the key issue,” he stressed.

Asked about measures to reduce those costs of funding that can be taken at the EU summit today and tomorrow, Rajoy has stated that the “position of Spain is already known” and he will defend, but recalled that “decisions are made in most cases unanimously and that complicates things. ”

“What comes out of all this, as we shall see,” said.

Together with this high priority, Rajoy has argued that out of the current EU countries should “continue cleaning up” their public accounts, to agree on measures to reform and growth.

Among them, the Spanish prime minister has argued that the European Investment Bank (EIB) to finance small and medium enterprises, which has been considered a “key priority” to fight unemployment in the country.

Asked about the option of a direct recapitalization of Spanish banks, the chief executive has said it is “one of the possibilities that are open,” but stressed that this issue not be resolved today.

Rajoy has said that this route, which would mean that the European rescue fund capital injecting problems in States without passing through the state “has its advantages and disadvantages.”

It’s, recalled that “the union would go into banking” is the debate and hope that today the point “some ideas” about the topic at the meeting of heads of State and Government of member countries.