How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- Daily Brief - Thursday 23 October 2014
- Mr Grumpy v Angeles Duran
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Europe considers EU bailout aid for banks
The European Central Bank and a group of euro zone countries are working on a possible initiative to enable crisis-stricken banks to have direct access to Europe's permanent bailout fund, German daily Sueddeutsche Zeitung wrote on Thursday, without citing sources.
"According to the Sueddeutsche Zeitung's information, a group of euro zone countries will check in the next two weeks how credit could be directly transferred to banks that are strapped for cash but able to survive," the paper said, noting, however, that Germany strongly opposed this.
"The reason for the haste is the crisis in Spain and the worry that this could spread to further euro countries."
According to the existing agreements, countries rather than banks can tap the European Stability Mechanism.
The Sueddeutsche Zeitung reported earlier this month that there was a dispute over the allocation of funds in the common currency bloc and that some officials of the ECB and a number of euro zone countries were pressing for a relaxation of the terms under which Europe's bailout mechanism can dispense aid.
Latest News & Stories
- Spanish Students Protest for 3 Consecutive Days
- Spain's Bankinter profit up 31.6%
- Bank of Spain sees Q3 GDP growth at 0.5 pct q/q
- Spanish unemployment falls to 3 year low
- Spain to invest €864m in ports in 2015
- PP seeks to legalise spot deportations of illegal immigrants
- Catalan Finance Chief Open to 'Scottish Solution' in Spain
- Spain sees foreign visitor numbers up 7.4% 2014 y-t-d
- Iberdrola Profit Declines After Spain Cuts Renewable Subsidies
- Spain ‘certain’ UK backed its Security Council bid
- Applying for a Business Loan
- Applying for an EU Grant for your Business
- When you can’t pay the Mortgage