Brussels, 17/04/2012 (Agence Europe) - On Tuesday 17 April, the chair of the Eurogroup, Jean-Claude Juncker, said that Spain would not need any international aid to deal with its economic and budget problems, despite facing increased interest rates to roll over its debt. Juncker said he was impressed with the efforts made by the Spanish government in its budget plans for 2012, which include a further €27 billion in public spending cuts.
On Tuesday 17 April, Madrid rolled over more than €3 billion of 12 and 18-month bonds at higher interest than in the most recent emissions of this nature. The yield for 18-month bonds has increased, for example, from 1.7% to more than 3% in a month. The Spanish Treasury is planning to be auctioning €5.5 billion-worth of ten-year bonds on Thursday. The yield demanded on Spanish long-term debt has started to fall back below the 6% level. (MB/transl.fl)