Spain protected from Greece crisis: minister

Spain is protected from a possible impact of the Greece's crisis on the country's economy, Spain's Economy Minister Luis de Guindos said on Monday.

De Guindos, who was interviewed on the local radio station RNE, explained that Spain's economic recovery protected the country against the situation in Greece, where capital controls were imposed and banks will remain closed for six days.

De Guindos explained that Spanish banks were in a better situation than previously, public deficit had been reduced and exports were rising, all factors that protected the country from the difficult situation happening in Greece.

He emphasized that the measures implemented by the Spanish government were key to avoid the impact. "Spain's economy grows, and the banks' situation has nothing to do with three years ago," he said.

Regarding Greece, the minister said "there is still time." "An agreement should not be discarded," he pointed out, highlighting that the best option for the Greeks was to remain in the eurozone. Endit