Spain Confident EU Won’t Need to Buy Its Bonds, Salgado Says

Finance Minister Elena Salgado said she’s confident Spain’s deficit-reduction efforts will restore investor trust and end the need for European authorities to support the nation’s bonds.

Even though the global slowdown threatens the country’s growth target for this year, the government’s commitment to cutting the region’s third-biggest deficit will shore up demand for its bonds, she said. “I don’t take it for granted” the euro-region’s rescue fund will have to backstop Spain’s debt when it takes over bond-buying from the European Central Bank after September, she said.