Arsenal have already been tipped to pursue the services of Denis Suarez from Barcelona but they are experiencing a similar predicament with the Spanish club wanting a straight-cash deal for the Spaniard.
But owner Stan Kroenke has not made funds available with Emery revealing that loan deals will be the limit of their ambition.
"We can not sign anyone permanently", Emery said ahead of Arsenal's game against West Ham on Saturday.
Arsenal midfielder Ainsley Maitland-Niles says the club are finally travelling in the right direction under Unai Emery.
"I asked at Blackpool if he was OK to help us play and he said: "Yeah, coach, I want to play" and he played with a very big behaviour and commitment to us".
The Accidental Prime Minister Day 1 in overseas
Suzanne Bernert plays Sonia Gandhi and Arjun Mathur plays Rahul Gandhi. "They have released some film just before the election". The Accidental Prime Minister will be clashing with Vicky Kaushal-Yami Gautam's Uri: The Surgical Strike .
The Gunners have won their last two games in all competitions, and will look to make it three wins in as many games when they travel to the London Stadium to take on West Ham on Saturday.
Arsenal will move level with four-placed Chelsea with a victory over West Ham United in Saturday's early kick-off. I know these players and they are very good players.
"I respect his decision a lot".
"But I am happy with every player today, it is really some injuries that didn't help us in the last matches because we struggled with different injuries with the players".
The Gunners signed Bernd Leno, Stephan Lichtsteiner, Sokratis Papastathopoulos, Lucas Torreira and Matteo Guendouzi in the summer at a cost of over £70million - but Emery conceded the winter window will be much more frugal from Arsenal.