Schäuble reiterates his conviction that Spain will not need bailout fund

German Finance Minister, Wolfgang Schäuble, today reaffirmed its conviction that Spain will overcome the crisis without resorting to the European bailout fund and the government of Mariano Rajoy has introduced the necessary measures to achieve this.

“Spain will go forward without help from the European rescue fund in their fight against the debt crisis,” the minister told the weekly “Focus”, according to reports advanced by the editors of that magazine, on sale on Monday .

Schäuble, who this week and expressed confidence in the Government’s actions Rajoy after meeting in Santiago de Compostela with his economy minister, Luis de Guindos, the weekly insists that Spain has taken “appropriate measures”.

“The Spanish say they’ll do it alone and I believe them,” continues to insist that Spain “is taking the right steps and progressively implemented.”

The Berlin government confirmed this week as his “respect” and “trust” to his partner in the eurozone, following confirmation that went into recession in the first quarter and be of note lowered by Standart & Poors rating agency.

At the domestic German in Germany Schäuble argues that wage agreements are negotiated with increases above the average in other eurozone countries.

“It is right that our salaries to be higher than in other countries. Germany made and can assume the duties now better than other States these agreements,” he says, in relation to the country implemented a few years ago now drive settings other partners EU.

“However, we must take care not to overdo the note. We must maintain the correct proportion,” qualifies the minister, referring to the ongoing negotiations in the areas of metal and chemical industries, where unions demand increases on the 6%.