Germany tells Spain to hold off bailout request

EurActiv reported that Spain was ready to request a eurozone bailout for its public finances as early as the weekend of 6-7 October 2012 but Germany had signalled that it should hold off.

Separately, in the face of heavy pressure, the central government in Spain agreed on the 2 October 2012 to share some of the leeway afforded Spain by the European Commission on its deficit-reduction program with the country’s financially stressed regions

• Primary Source

ESO: Background information: Madrid faces test over bank review http://www.europeansources.info/record/madrid-faces-test-over-bank-review-rajoy-fights-growing-spanish-turmoil/

El País, 1.10.12: Brussels ready to act if Spain asks for second bailout, EC’s Rehn says http://elpais.com/elpais/2012/10/01/inenglish/1349111605_905690.html

EUObserver, 3.10.12: Spanish regions agree to deficit plan http://euobserver.com/economic/117728

El País, 2.10.12: Madrid agrees to share deficit leeway granted by Brussels with the regions http://elpais.com/elpais/2012/10/02/inenglish/1349198328_230779.html

EUObserver, 06.12.13: Merkel denies pressuring Spain on bailout http://euobserver.com/political/122380

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