Lately, the Eurozone Ministers have been taking a strong position in defence of Spain. They say the country is taking enough steps to save its economy from going under and did not need a bailout at all.
The German Finance Minister said as he arrived ina conference to discuss the euro, “Spain needs no aid program. Spain is doing everything necessary, in fiscal policy, in structural reforms,”. He continues to explain that Spain’s main issues are with their banks who still suffer from the real estate bubble of the past few years and all the EU should do to help is aid in banking recapitalisation
Is Spain better off than we think? should the EU just aid in “banking recapitalisation” or should a drastic move be done now before things get worse off?