OECD says ECB should support Spain

Wed Sep 5, 2012 7:13am EDT
 
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MADRID (Reuters) - The European Central Bank should support countries like Spain, which are carrying out necessary adjustments, the secretary-general of the Organisation for Economic Cooperation and Development (OECD) said on Wednesday in a radio interview.

A full European rescue is an option for Spain, Angel Gurria said.

Spain has already requested a 100-billion-euro ($127 billion)European credit line for its troubled banks and is carrying out spending cuts and tax hikes to meet stringent budget deficit targets.

($1 = 0.7961 euros)

(Reporting By Robert Hetz, Writing by Sonya Dowsett; Editing by Carlos Castellanos)

 
Jose Angel Gurria, secretary general of the Organisation for Economic Co-operation Development attends a panel during a B20 meeting prior to the G20 summit in Los Cabos June 17, 2012. REUTERS/Andres Stapff