Spain Needs Euro-Region Pact to Save Solvency, PP Says

Spain needs a euro-region accord to “save and guarantee the solvency” of its debt amid surging bond yields, said Maria Dolores de Cospedal, deputy leader of the People’s Party, which won the Nov. 20 general election.

“Spain cannot continue financing itself at 7 percent,” Cospedal told reporters late yesterday after a meeting of the party’s executive committee in Madrid. “So an agreement through a joint euro-zone operational strategy to save and guarantee our sovereign debt has to come from the European institutions.”