Spain's prime minister pleads

artappraiser — Fri, 18 Nov 2011 13:24:49 +0000

In reply to Spain's Rajoy to boost business after voters dump Socialists

Spain's prime minister pleads for help from EU and ECB as yields climb
By Giles Tremlett in Madrid, guardian.co.uk, Nov. 18, 2011

• Zapatero: 'This is why power has been transferred to them'
• Madrid's borrowing costs near 7%
• ECB reportedly steps in to buy up Spanish debt

....In the meantime, pressure was piling up on Mariano Rajoy, the People's party (PP) leader expected to take over as prime minister after Sunday's general election, to reveal his plans for saving the country from a bailout that might bring eviction from the eurozone.

Rajoy remained tight-lipped, however, as Spain's treasury was forced to borrow money at a rate of almost 7% on Thursday for the first time since 1997, declining to give further details of what is expected to be a major reform and austerity programme.

"I do not have a magic wand to fix these problems, nor can we expect that they will all be solved in one day," El País quoted the conservative leader as saying at a campaign rally....

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Spain's prime minister pleads