Brussels, 11/03/2015 (Agence Europe) - On 10 March, the European Stability Mechanism (ESM) approved Spain's request to pay back €1.5 billion in loans early.
This is the second time that Madrid has made an offer of this kind, having paid back a tranche of €1.3 billion early in July 2014 (see EUROPE 11117).
Between December 2012 and February 2013, the ESM lent the Spanish state €41.3 billion to recapitalise and restructure its banking system, under threat of implosion after the Spanish...