BREAKING NEWS

Spain may turn to ECB's bond-buying programme to raise money

Now Reading:

Spain may turn to ECB's bond-buying programme to raise money

Text size Aa Aa

Spain may become the latest eurozone country to approach the European Central Bank for financial help – though not for a full bailout, according to the country’s prime minister Mariano Rajoy.

He has been quoted by a Finnish newspaper as saying the Spanish government could turn to the ECB’s bond-buying programme, but the terms would have to be looked at carefully.

Troubled Spanish banks are already the recipients of rescue funds of 100 billion euros.

It is estimated Spain’s government may have to borrow up to 45 billion euros to stay afloat, more than double the amount previously predicted.