He must be joking!!!!
I left you with some images of Spain impressive success story!!!
The EU says Spain's banks are back on a "sound footing," but one in four Spanish people are still unemployed.
Klaus Regling, the director of the Luxembourg-based European Stability Mechanism (ESM), made the statement on Tuesday (31 December) to mark the expiry of Spain's EU credit line.
He described the rescue effort as "an impressive success story" and predicted the Spanish economy will "achieve stability and sustainable growth" in the near future.
He also praised the EU's austerity policy more broadly, saying: "The people’s readiness to accept temporary hardship for the sake of a sustainable recovery are exemplary … The Spanish success shows that our strategy of providing temporary loans against strong conditionality is working."
Spain will officially exit its bailout later this month, after Ireland quit its programme in December.
Unlike Cyprus, Greece, Ireland and Portugal, the Spanish rescue was limited to its banking sector instead of a full-blown state bailout.
It saw the ESM put up a €100 billion credit line in July 2012.
In the end, the ESM paid out €41.3 billion to a new Spanish body, the Fondo de Restructuracion Ordenado Bancaria (FROM), which channelled the loans, most of which mature in 2024 or 2025, to failing lenders.
Spain has said it will not seek any "follow-up assistance" after the bailout ends.
It is also selling off some of the renationalised banks which received ESM-FROM money.
Euobserver
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