OECD Secretary General Sees Spain Going It Alone

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By Trey Thoelcke Published
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Angel Gurria, the secretary general of the Organization for Economic Cooperation and Development, told CNBC that Spain’s reluctance to request a bailout is understandable and the country may try to fight its deficits and economic and bank trouble on its own. This is a minority view. International capital markets investors, financial ministers of most of the nations in the region and the European Central Bank all expect Spain’s needs for outside money to be unavoidable. Gurria told CNBC:

If you are the leader of a country that has done everything that had to be done, and then the ECB (European Central Bank), works on the secondary markets for you and lowers those yields and (yet) you are told that you have to go and ask for a (bailout) and you say ok, but then you’re given very strong signals that if you go, you will be told, “No” how can you reconcile those two things.

Broken English, but he got his point across.

Douglas A. McIntyre

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About the Author Trey Thoelcke →

Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.

Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community. He previously oversaw the 24/7 Climate Insights site, managing editorial operations and content strategy, and currently oversees and creates content for My Investing News.

Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.

Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, overseeing a long-running critique group and moderating workshop sessions at regional conventions. He lives with his family in an old house in the Midwest.

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