Brussels, 10/07/2012 (Agence Europe) - After nine hours of talks in Brussels, agreement was reached on Tuesday 10 July 2012 on a draft memorandum on aid for Spanish banks and allowing Spain an extra year, until 2014, to bring its public deficit back below the 3% of Gross Domestic Product (GDP) cut-off point.
The idea is to reach formal agreement in the second half of July following the necessary national parliamentary procedures so that €30 billion can be paid out by the end of the month...