Germany’s Schaeuble and Spain’s Guindos met this afternoon and have just issued a statement.

  • Quick implementation of the Spain’s bank bailout is needed
  • Spain has taken important steps on the economy
  • Spanish spreads don’t reflect fundamentals
  • Important to work toward banking union
  • June EU accords should be applied quickly

See, that wasn’t so hard!

Separately, the German finance ministry is making supportive noises about Spain.

  • Government, Parliament back Spanish bank program
  • Program important to break the vicious circle between banks and sovereigns