Prime Minister Katainen described Finland's euro policy in Spain
Translation. Original Finnish released on 11 September 2012
Prime Minister Jyrki Katainen had a meeting with the Prime Minister of Spain, Mariano Rajoy, on 11 September in Madrid. The premiers discussed the stability of the euro area and the development of the European Monetary Union.
"In Spain, Finland is known as a country with tight principles and I admitted it is true in terms of budgetary disciple. I emphasised that, in our view, the market reactions have not been fair to Spain which has implemented convincing economic reforms and narrowed its budget gap. The level of loan interest rates in Spain should be lower and we need to find solutions together to calm down the nervous markets", Prime Minister Katainen said.
"Prime Minister Rajoy understood very well the reasons why Finland had to demand collateral for the bailout of Spanish banks in the summer", Katainen said.
In Madrid, Prime Minister Katainen spoke at a Spanish economic event, the Nueva Economía Fórum. Some 150 political and economic leaders in Spain participated in the forum.
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