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Spain Doesn’t Need Bailout or Budget Cuts, Guindos Says

Spain’s Economy Minister Luis de Guindos said his country doesn’t need a bailout and that budget cuts that have already been planned will be sufficient to meet a deficit goal set by the European Union for 2013.

“Spain doesn’t need any sort of bailout” and the target for the budget shortfall this year is “achievable,” de Guindos told Ryan Chilcote in a Bloomberg Television interview today in Davos, Switzerland, where he is attending the World Economic Forum. “The perception of the Spanish economy has improved and will continue to do so over the next weeks and months.”