Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Spain to make another EU bailout repayment

Source: The Australian - Wed 20th May 2015
Spain to make another EU bailout repayment

Spain plans to pay back €2.5 bn in bailout loans it received in 2012 from the EU to bolster its ailing banks, the economy ministry says.

Madrid will transfer the funds to the EU rescue fund in July - ahead of schedule - an economy ministry spokeswoman said.

Spain has already reimbursed two tranches of the €41.4bn in bailout funds it received for its banking sector, despite having decade to do so.

Madrid made a first repayment of €1.3bn in July 2014, followed by a 2nd installation of €1.5bn in March 2015.

Spanish banks were battered when the country's decade-long housing bubble burst in 2008, spurring the state to nationalise some lenders and seek EU aid.

Spain's eurozone partners agreed in June 2012 to provide up to €100bn to rescue its crippled banking system.

The Spanish economy, the eurozone's 4tgh-largest, returned to growth in 2014 with expansion of 1.4% after 5 years of recession.

The government expects the economy will expand by around 3.0% this year, faster than any other large eurozone country.

Recommended Reading :

* Rajoy : "Who's talking about bailouts, recession or unemployment ?"

* Spain approves spending package a week before elections

Comment on this Story

 
That's great... But why aren't the banks paying back this money? The govt. sold CAM to Sabadell for €1, but forked out billions to rescue it. I don't understand all this, please someone enlighten me!
Ed Bishop - Wed, 20th May 2015

Related Partners

Recommended Items

Related Articles

Related Blogs

 
When shopping for bodyjewelrytips, never buy anything that has nickel. The best type of material is the steel, titanium, wood, anodized gold or gold. Most nickel products will rust and may infect your ear. If you have pierced the naval or eye, you do not need to worry, as that is the most versatile part of the body. You can wear rings, straight, curved or fancy and captive beads. There are many leading body piercing jewelry that offer some of the biggest collection at very affordable price. In regard to shopping, always go to a wholesale shape as that is the sure place of getting any type of body piercing jewelry. The only thing that you need to be careful about is the material used to make the jewelry. There are instances when body piercing might go wrong and the result is an infection. In order to avoid this, make sure that the person doing the piercing is qualified to do so. After piercing is done Bodys piercing trends, you should keep the area sterilized and clean. Use warm water to wipe dirt. Never use spirits as they will corrode the area resulting to a wound which might cause an infection.