"I think if it happened, it would be completely illogical because I think there's a lot more growth potential in Spain. The economy is bigger, they are more competitive, so I hope they will be given the time to grow out of it," he said.
Meanwhile, Spain's central bank announced Monday that bad debts held by the country's banks rose to a new 18-year high in April, indicating more companies and individuals are failing to make payments on time. The amount stood at €152.7 billion, or 8.72 percent of the loans held by Spanish banks. The rate was 8.37 percent in March.
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DiLorenzo reported from Brussels. Daniel Woolls contributed from Madrid.
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