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Europe Daily Bulletin No. 10740

29 November 2012
ECONOMY - FINANCE - BUSINESS / (ae) state aid
Restructuring of four Spanish banks approved

Brussels, 28/11/2012 (Agence Europe) - On Wednesday 28 November, the European Commission approved the restructuring plans of the state run Spanish banks BFA/Bankia, NCG Banco, Catalunya Banc and Banco de Valencia. This approval will allow the banks to receive aid of €37 billion from eurozone countries, probably in mid-December, through the European Stability Mechanism (ESM) and the FROB(The Fund for Orderly Bank Restructuring) in Spain. Under the terms of the memorandum of understanding...

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