Spanish economy may start recovering in 2013 (2)

"When confidence improves, the risk premium will also improve," he said.

One factor that could improve confidence was a move towards banking union in the EU, he said.

The central bank governor said "there will not be any uncertainties" in regard to the restructuring of Spanish banking system and he highlighted the efforts made by the Spanish financial entities in this process.

Meanwhile, the Spanish risk premium fell by 16 points to 445 on Tuesday in a session marked by Eurogroup discussion over Greece and the downgrade of France's sovereign debt by Moody's.

After a successful auction held on Tuesday by the Spanish treasury where it placed treasury bonds valued at 4.937 billion euros (6.326 billion U.S. dollars), the IBEX-35 stock market in Madrid rose by 0.19 percent, reaching 7,778 points at the end of the day's session.

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