Future Of The Euro At Stake In Spain And Italy: De Guindos

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Spain's Economy Minister Luis de Guindos on Thursday said that the future of the euro would be at stake in the next few weeks in Spain and Italy.

Speaking at an event in Sitges, in the north-eastern province of Catalonia, he also said that the European Union should move towards a true banking union, with possible steps being taken by the end of June.

"The battle of the euro is being fought right now in Spain and Italy," De Guindos said. "The future of the euro is at stake in the next weeks in Spain and Italy."

De Guindos also said that rumors that Spain was negotiating financial assistance with the International Monetary Fund were "complete nonsense."