Spain lashes out at Germany

Published on 13 July 2011 at 12:36

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“ECB to the rescue,” headlines La Vanguardia following yesterday’s attack on Spanish and Italian sovereign debt on the financial markets, which was then halted by the ECB’s buying of bonds issued by both countries. Speaking in the presence of Herman Van Rompuy on a visit to Madrid, the Spanish Prime Minister insisted that "powerful countries" should assume their responsibility in the eurozone crisis — a direct allusion to Germany and Angela Merkel’s reluctance to authorise a plan that would have private banks participate in a second Greek bailout — a "central and decisive" issue for Zapatero. According to the daily, Zapatero’s remarks amounted to a "socialist message" and "demonstration of Spanish resistance." In its editorial, La Vanguardia argues that Herman Van Rompuy should address the question of "the worrying lack of government" in the EU by organising an emergency summit in Brussels this weekend, "especially in the wake of the pathetic spectacle provided by the EU finance ministers’ meeting" on 11 July.

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