• Must reform Spanish economy to correct imbalances
• Adjustment is painful but necessary
• Ordering public finances takes time
• Crisis can have dramatic consequences (referring to the suicide of an evicted homeowner)
• Will announce debt issuance details by the year end
• Cannot estimate funding needs for Spain’s region just yet
• Situation regarding ECB intervention is unchanged, Spain hasn’t decided on a bailout
• Huge uncertainty surrounds Spanish economy
• Can’t say when net job creation will resume
• Spain is complying with bank aid memorandum of understanding