Home > Uncategorized > Spain fears harsh rescue terms from AAA Nordic parliaments – Telegraph

Spain fears harsh rescue terms from AAA Nordic parliaments – Telegraph

True Finn leader Timo Soini said the parliament would demand high-quality collateral from Spain, complicating any deal. “Don’t underestimate the fury of Finnish taxpayers. Almost everybody here thinks the bail-out policies have failed and that we are paying to rescue French and German banks,” he said.

The mood in Germany’s Bundestag has become tetchy and unpredictable. Chancellor Angela Merkel faces a simmering mutiny from the Free Democrats (FDP) and Bavaria’s Social Christians (CSU) in her own coalition.

She can push through a rescue with votes from opposition Social Democrats (SPD) but electoral politics is intruding. All key parties agree in any case that EU-IMF Troika discipline in Ireland and Portugal would collapse if Spain secures softer terms. “Everything will fall apart unless the conditions imposed on Spain are extremely tough. Madrid should have no illusions about this,” said one German policy-maker.

Giles Merritt from Friends of Europe in Brussels said the mood is poisonous. “The Bundestag feel they are being jerked around by the Spanish and the Greeks. It is impossible to know how they are going to react,” he said.

via Spain fears harsh rescue terms from AAA Nordic parliaments – Telegraph.

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