Brussels, 19/10/2012 (Agence Europe) - The Spanish bailout plan is reported to be simply a matter of time, although at their summit in Brussels on Thursday 18 and Friday 19 October 2012, Europe's leaders denied discussing the issue and the Spanish prime minister, Mariano Rajoy, prefers to act from the sidelines at the moment. Several European sources said in recent days that Madrid, which has been avoiding calling for a full bailout package, is preparing to make a formal request later this month or next month, when the elections timetable in Spain, Finland and Germany is suitable.
Mariano Rajoy said there had not been any talk of a bailout on the table at the European Council and that nobody had talked about the credit line offered by eurozone or had asked him about it.
The French president, Francois Hollande, said that the French view was that as soon as Spain feels it has to ask for a plan, there would be no reason to impose conditions that would only add austerity upon austerity when it is doing all the necessary work. He said it was for Spain, and Spain alone, to decide about requesting a plan and it has not done so. Hollande hoped that the countries hit by very high interest rates would be relieved of this burden as soon as possible. Several countries have said in recent months that any aid for Spain must be accompanied by strict budget and structural reform conditions. (LC and AN/transl.fl)