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Image header Agence Europe
Europe Daily Bulletin No. 10660
ECONOMY - FINANCE / (ae) eurogroup

Formal agreement on Spanish aid package

Brussels, 20/07/2012 (Agence Europe) - On Friday 20 July, eurozone finance ministers unanimously agreed on a financial aid package for Spanish banks, an agreement that will enable the first instalment to be made out, some €30 billion, from the EFSF to cover urgent needs by banks. The cash will be paid into the FROB (Fund for Orderly Bank Refunding), which will allocate the cash to banks. The EFSF will be providing aid until the ESM is up and running, but without being granted senior lender...

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