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Spain's PM Mariano Rajoy claims deficit-cutting measures will convince the markets (Photo: Partido Popular de Cantabria)

Spain in wait-and-see mode as recession worsens

Spanish Prime Minister Mariano Rajoy on Tuesday (28 August) said his government has not yet taken a decision on asking for European help in refinancing its debt, pending a key meeting of the European Central Bank next week.

Speaking alongside EU council chief Herman Van Rompuy, who interrupted his vacation in Spain to meet the Prime Minister, Rajoy re-stated his commitment to "take all necessary measures" to get the country out of the worsening crisis.

"We've already taken complic...

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Spain's PM Mariano Rajoy claims deficit-cutting measures will convince the markets (Photo: Partido Popular de Cantabria)

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