May 22, 2013
Rajoy: 'Spain will not be rescued, the alarm is unjustified'
Spain's government will pass health and education reforms later this month, in the country's latest measures to cut spending and meet difficult deficit reduction targets, Prime Minister Mariano Rajoy said in Warsaw today.
Speaking at a news conference after a bilateral meeting with Polish Prime Minister Donald Tusk, Rajoy also strongly rebuffed the idea that Spain would need a bailout despite the recent spike in its borrowing costs.
"Spain will not be rescued. The alarm is unjustified," he said.
The reforms to be passed this month are meant to give Spain's 17 autonomous regions, which control health and education spending, more flexibility to make cuts in those areas and save an estimated 10 billion euros a year.