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Spanish bank bailout may be delayed
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The final agreement on European aid of 100 billion euro for Spanish banks may be delayed by a few days.
Most likely, it will be put off until July 20 to allow more time for negotiations, according to sources close to the talks.
As expected, the Memorandum of Understanding will specify the maturity and the interest rate of the loans. It will also include the conditions attached to them such as a restructuring of the entire sector and a reform of banking supervision.
According to the sources, the first tranche of European money will be sent to Spain just in time for the state-rescued banks to keep running their day-to-day operations normally.
The Spanish government has already rescued Bankia, CatalunyaCaixa, NovaGalicia and Banco de Valencia.
The signature of the Memorandum of Understanding was initially scheduled for July 9, when eurozone finance ministers meet in Brussels, reports Reuters.
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monty @ 2013-06-20 11:03:21
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Piotr @ 2013-06-19 16:35:15
I'm sure all his extravagant lunches and huge travel expenses are "SUSTAINABLE"
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Josh @ 2013-06-19 16:30:45
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Alex @ 2013-06-19 14:31:53
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Ivan @ 2013-06-19 11:58:55
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