TNBiz (TNBiz)
Markets  |  July 14, 2012 13:53:46

ECB council member Weidmann pushes for reforms in Spain


BERLIN (MEDIAFAX) - The head of the German Bundesbank and a member of the European Central Bank (ECB) Jens Weidmann pushing for reforms in the debt-torn Spain. Informed the agency said.

According to Weidmann, Spain should continue the extensive reforms that would positively impressed by the bond markets and ease pressure on yields.

"I am convinced that Spain needs to take a broad-based approach to solving their problems," Weidmann said.

"It should also have a positive impact on the bond market," he added.

Spain asked for the euro area in June to draw up to 100 billion euros. Eurozone Finance Ministers has approved financial assistance for Spanish banks in the amount of 30 billion euros, which should be available in late July.

Libor Popel, popela@mediafax.cz

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