Mediafax (Mediafax)
Markets  |  June 16, 2012 12:53:46

Spanish Prime Minister calls for greater political and fiscal unity


MADRID (MEDIAFAX) - Spanish Prime Minister Mariano Rajoy in Saturday's speech called for greater political and fiscal union in the euro area. Informed the agency said.

Spanish companies, banks and regional governments to the Prime Minister now finding it difficult to finance their needs under the current high borrowing costs.

"The country would need to continue while reducing the public deficit," said Spanish Prime Minister.

Spanish public debt in the first quarter of this year, according to the local central bank increased to 72.1 percent of gross domestic product (GDP).

The government expects the public debt by the end of this year increased to 79.8 percent of GDP. This figure does not include the impact of credit from the euro area of ??up to 100 billion euros to help the troubled Spanish banks.

Late last year, Spain's public debt reached 68.5 percent of GDP.

Filip Sušanka, susanka@mediafax.cz

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Španělský premiér volá po větší politické i fiskální jednotě

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