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Spain’s Aid Dilemma Takes Center Stage

Finance ministers want Spain to take more measures to cut debt.

By James G. Neuger, Svenja O'Donnell and Maud van Gaal | Updated on September 14, 2012

European finance ministers squared off over a possible aid program for Spain, with creditors unwilling to commit until the government takes additional steps to boost competitiveness and rid the economy of debt.

Spain, already drawing on 100 billion euros ($130 billion) to repair its banking system, wants the lightest possible conditions on a European credit line or loan program that would also enable the European Central Bank to buy bonds to bring down its borrowing costs.

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