EU Should Aid Spain’s Banks, Not Country, Huether Tells Die Welt

Michael Huether, head of Germany’s IW economic institute, said the European Union should help rescue Spain’s banks rather than forcing the entire country to seek a bailout, Die Welt reported, citing an interview.

The core of the debt problems in Spain lies with its banks and if the EU helps those, Spain can handle its current economic crisis itself, the newspaper cited Huether as saying in a preview of an article that will be published tomorrow.

To contact the reporter on this story: Niklas Magnusson in Hamburg at nmagnusson1@bloomberg.net

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