No need for further ECB 3-year loans for now

VIENNA: European Central Bank policymaker Ewald Nowotny said on Tuesday Spain was taking the necessary steps to repair its finances and added that while there was no need at present for another injection of 3-year cash, it couldn't be ruled out in future.

The ECB flooded the euro zone's banking system with more than 1 trillion euros in cheap 3-year loans - also known as LTROs - which helped to avert a credit crunch and calmed debt markets.

Asked about the need for a third , Nowotny, who sits on the ECB's Governing Council and also heads the Austrian central bank, said: "I can't rule it out, but I see no need at present."