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Schaeuble declines to press Madrid over rescue

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France is pressing Spain to request help in order to contain the eurozone crisis almost three years after it first emerged in Greece.

France is pressing Spain to request help in order to contain the eurozone crisis almost three years after it first emerged in Greece.

France is pressing Spain to request help in order to contain the eurozone crisis almost three years after it first emerged in Greece.

GERMAN finance minister Wolfgang Schaeuble has discouraged Spain from seeking a full bailout, saying another request for outside aid risked a fresh round of financial market turmoil.

"I'm not in the camp that says, 'take the money,'" he said.

Mr Schaeuble said in an interview in Berlin yesterday, when asked about French moves to press Spanish Prime Minister Mariano Rajoy's government to ask for more aid, that Spain "would be daft" to ask for a bailout on top of the €100bn for its banks if it didn't really need it.

"I don't share the view of those who say Spain is so much a focus of speculation in the financial markets that we should advise the Spaniards to do anything different from what they're doing," he said.

Banks

"I'm one of those who says that we should do everything possible to convince the markets that this speculation against Spain is without any basis in reality."

European policy makers are at odds over Spain as Prime Minister Mariano Rajoy stalls on whether to request more aid from the eurozone rescue funds and potentially win European Central Bank help to lower borrowing costs.

France is pressing Spain to request help in order to contain the eurozone crisis almost three years after it first emerged in Greece. (Bloomberg)

Irish Independent