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 27 April 2017
- When Expat Eyes Are Smiling
- 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
Germany rejects bailout of Spanish Banks
Standard & Poor's downgrade of Spain does not change Germany's position on allowing Banks to have access to Europe's financial backstops.
Micheal Meister, a senior lawmaker from Chancellor Angela Merkel's party commented "The German position is absolutely strict, and since such aid programs require unanimity, there's not going to be any change. All sorts of people can try to set things in motion, but Germany won't vote for it."
Meister continued to say how it was "obvious" that there can't be unconditional help from the European Stability Mechanism (ESM) for Spanish banks, and that the responsibility and liability should lie with its members, which are nation states, not banks.
The Deputy Chairman of the Christian Democrat party also said how "Spain doesn't only have a problem with its banks. Spain has a problem with its banks, it has a problem with its budget and it has a problem with its economic situation, with its competitiveness too."
However, he confirmed that he was confident that Spain "can get by without external help, despite the rating agencies", but that he expected to see further European downgrades in the coming months.
Latest News & Stories
- Pensioners miss flight to Spain after being abandoned in Airport
- Britons buy fewer houses in Spain after Brexit vote
- Almost 28% of Spanish population at risk of poverty or social exclusion
- Bank of Spain says structural reforms needed to further reduce deficit
- Brexit takes its toll on Spanish property market
- Spain’s “golden visa” scheme brings in €2.16 billion in first three years
- How and where to complain about my Bank in Spain
- Bank guarantees - when things go wrong
- Bank Charges in Spain