Prime Minister Mariano Rajoy continued to keep his cards close to his chest on Tuesday as to whether Spain would seek a second bailout to help lower the country’s borrowing costs.
After a meeting in Madrid on Monday with the president of the European Council, Herman Van Rompuy, the PM was asked if Spain’s debt situation was sustainable without a bailout. He responded by saying that he would do “everything that is convenient to the interests of Spaniards.”
Rajoy has said that once he knows what conditions the European Central Bank will impose for renewing its bond-buying program, he will decide whether or not to seek assistance from the European rescue funds as a step prior to intervention.
Spain’s European partners have already pledged up to 100 billion euros to recapitalize the Spanish banking system and get lending flowing again.