Spreads not a problem for Spain

Spain does not have a problem with the premium investors demand to hold its debt over that issued by Germany, the benchmark sovereign issuer in Europe, Spain's economy minister said in a newspaper interview.

Asked if the so-called spreads were a problem, Economy Minister Elena Salgado told German business daily Handelsblatt: "Not at all."

"The refinancing of a total of 24 billion euro due in July is according to our financial plans and does not worry us," she added.

Asked if Spain needed to make use of Europe's financial safety net, she replied: "No we don't need it … No, Spain will not make use of the fund."