Spain won't need bailout, says economy minister
Salgado insists country has made the necessary reforms amid uncertainty over Greek package
While European finance ministers met in Luxembourg to discuss extending emergency loans to Greece, Economy Minister Elena Salgado reaffirmed on Monday that Spain will not be the next in line to seek aid.
"There has been turbulence over the past several weeks and evidently it would have been desirable if we would have reached a much more immediate agreement [on Sunday]. But I think the markets know perfectly how to distinguish one country from another; they know that we are making the reforms that our country needs, and that we are undergoing fiscal consolidation. So therefore I do not think there should be concern about Spain," she said.
The ministers' decision to delay approving emergency loans to Greece rattled the markets across Europe. The Ibex 35 dropped 0.96 percent, closing at 10,038.10 points.
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