Spanish Prime Minister: Reduce Our Borrowing Costs Now

Mariano Rajoy, Spain PM

Photo: Daniel Ochoa de Olza/AP

Spanish PM Mariano Rajoy has a pretty specific goal/demand for this week’s EU summit: Find a way for Spanish borrowing costs to go down.From Emma Ross-Thompson at Bloomberg:

Spanish Prime Minister Mariano Rajoy said he will urge other European Union leaders at a summit this week to take measures to “stabilise markets using the available instruments.”

“The most important thing today is being able to finance ourselves in the markets, that’s the main issue, and on that point Spain, Italy and other countries are going to push for reasonable decisions to be made,” Rajoy said in Parliament today. Spain can’t continue to finance itself at current borrowing rates for long, he said.

How this can be achieved at the summit, but the need and demand is pretty clear cut.

And whether Spanish borrowing costs to decline post-summit will be a pretty handy test for whether anything was achieved of any meaning.

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