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Spaniards not keen on more cash

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Spaniards not keen on more cash

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In Washington DC the IMF and the financial world may be shouting loudly at Spain from across the Atlantic to get its debt in order, but at home many Spaniards are not keen on the cavalry riding in, and are confident their government can find the answers without outside help.

“Spain has a lot of resources. In some ways we don’t need extra debts, as we can organise ourselves better with what we already have,” said one young man.

“Extra help would not be a good thing, because we would have to pay a lot of interest,” agrees a woman in Madrid.

Spain’s borrowing costs have crept up over the past few weeks as the markets have lost confidence in the government’s determination to cut spending, and respect EU budget deficit targets.