Crisis: Debt our biggest problem, Spain's Rajoy says

Premier undecided on applying for EU bailout

03 August, 16:45

(ANSAMed) - MADRID, AUGUST 3 - ''Debt is our economy's biggest problem,'' Premier Mariano Rajoy told reporters at a Moncloa Palace press conference on Friday. ''We've lived on borrowed money too long. We owe more than 900 billion euros, and we must either refinance those loans or ask for new ones.'' Rajoy said, adding that he ''has not yet made a decision'' on whether or not to ask for bailout funds from the EU's European Financial Stability Facility (EFSF). (ANSAMed).

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