PM : Spain will study new ECB aid measures

Spain will study the new measures being planned by the European Central Bank to resolve the eurozone debt crisis before taking any decision as to whether or not to use them, Prime Minister Mariano Rajoy said Friday. "I want to know what these measures are to see if they are adequate. Then I will take the best decision for the general interest of the Spanish people," Rajoy told a news conference. "I have not yet made any decision. We still don't know exactly what is being planned," he added. ECB head Mario Draghi said Thursday the central bank could intervene directly in the bond markets so as to bring down eurozone borrowing costs but this was contingent on government support and subject to conditions. Draghi also said the ECB might consider additional measures to calm markets which have driven borrowing costs for Italy and Spain back near to levels that forced Greece, Ireland and Portugal to seek massive bailouts. In June, Spain secured an EU 100 billion euro ($123 billion) credit line for its stricken banking sector but investors fear that with such high borrowing costs, it may in the end need a full bailout.