Spain: „ESM would be a Better Safeguard“

Politics ♦ Published: June 11, 2012; 16:55 ♦ (Vindobona)

Austria´s Minister of Finance Maria Fekter wants Spain to call for aid via the ESM.

Spain: „ESM would be a Better Safeguard“ / Picture: © ÖVP Bundespartei / Jacob Glaser

Following the commitment given by Eurozone finance ministers last Saturday to furnish Spain with up to € 100bn to rescue its distressed banks, Spain has now decided to apply for aid from the European stability fund.

Austrian Finance Minister Maria Fekter would prefer to see the aid package being provided to Spain (up to € 100bn), which is intended to stabilise the Spanish…