Spanish Prime Minister, Mariano Rajoy told reporters that “I’m not going to take into account any pressure that people might exert on me, but frankly no one is doing that,”.
The seemingly confident leader of Spain is showing his strong back bone by not falling under the pressure of markets or fellow European leaders.
When asked during a Q&A session October 2nd whether a bailout request from Spain was imminent, Rajoy replied: “No.” Thank you for your clear answer, Sir. 🙂
Forex traders, investors around the world, and economists still have their eyes fixed on Spain’s bailout position.
Rajoy said, referring to the ECB bond buying program: “It’s very important that the mechanism exists because a few months ago it didn’t,”.
“It’s very good because everyone knows it’s there and it can be requested, but at the moment the decision hasn’t been taken.”
The decision has no been made but, will it? That is the question. The Euro is has fallen the past two days and may continue as the request for Spanish aid is delayed.
My trading friends, don’t be caught off guard when or if the Bailout request comes. Be careful with the EURUSD.
Read Forex Crunch’s article for more info on Spain and the EURUSD: Click here to go read it!
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