Spain's Prime Minister Mariano Rajoy addresses the 67th session of the United Nations General Assembly at UN headquarters in New York, September 25, 2012. REUTERS/Ray Stubblebine
Spain's Rajoy to seek bailout if yields too high for too long
Posted : Wednesday, 26 September 2012 02:14AM
MADRID (Reuters) - Spain's Prime Minister Mariano Rajoy on Wednesday said he was ready to seek a new rescue package for his troubled country but only if its debt financing costs remain too high for too long.
He also announced he would create a new independent fiscal institution to monitor Spain's budget deficit- and debt-cutting efforts as part of a new set of structural reforms due to be unveiled on this week.
"I can assure you 100 percent that I would ask for this bailout," he told the Wall Street Journal.
(Reporting by Julien Toyer; editing by Patrick Graham)
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