Spain Bailout Likely ‘More Than Sufficient,’ Barroso Tells Veja

Spain’s 100 billion-euro ($126 billion) bailout appears to be “more than sufficient” to recapitalize and restructure its financial system, European Commission President Jose Manuel Barroso said in an interview with Veja magazine.

The euro zone as a whole is better off than the U.S. or Japan in terms of the ratio of debt to gross domestic product, Barroso said, according to the Sao Paulo-based publication. Greece should honor its commitments and remain in the currency union, he said.

Barroso also said Brazil should avoid engaging in protectionist measures, the magazine reported.

To contact the reporter on this story: Alexander Cuadros in Sao Paulo at acuadros@bloomberg.net

To contact the editor responsible for this story: Helder Marinho at hmarinho@bloomberg.net

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