Julien Toyer: Mariano Rajoy’s delays asking for aid prolonging pain in Spain
Published 31/10/2012 | 15:04
THE longer Prime Minister Mariano Rajoy puts off asking for aid from the eurozone, the greater the risk of further financial turmoil and an even worse recession in Spain, analysts say.
Promises of help from the EU and the European Central Bank have brought Spain's borrowing costs down from unsustainable levels in the past few months.
But ironically, if Rajoy is persuaded by the improved market conditions that he no longer needs to ask for help, it could make the situation worse.