Bank of Spain Governor Miguel Angel Fernandez Ordonez said on Monday pressure on markets was partly down to indecision by Ireland over its debt situation, which he expected the country to resolve in an "appropriate" manner.
In Dublin, the Irish government reiterated it would not need a Greek-style debt bailout but faced continued pressure to seek outside aid after reports suggested it could ask for money for its stricken banks from an EU emergency fund. [ID:nLDE6AE0HO]
"We expect an appropriate reaction by the Irish authorities ... to help to calm markets and quell unfounded worries," Fernandez Ordonez said in a speech to a banking conference in Madrid.
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