• Sharp rise in Spanish spreads not justified
• Economy maintains recovery despite market turbulence
• Significant non-resident participation in bond. bill sales in last 2 months
• Euro zone finance ministers working to approve July 21 accord by beginning of Sept
• ECB bond buying programme can only be transitory
• New economic measures to ensure meeting deficit targets, job creation
• Govt firm on decision to meet deficit target of 6% of GDP this year
• Agreement with political parties on cost control is possible