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 - Friday 19 December 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
Merkel praises Spain's aid request
Germany's Angela Merkel praised on Tuesday Spain's decision to request EU aid to recapitalise its banks but criticised the EU banking authority that supervised "stress tests" for failing to show up the shortcomings of the Spanish banking system.
"It was right for Spain to ask for help recapitalising its banks," said the chancellor, adding that the cause of Spain's crisis was "the Spanish property bubble of the last 10 years" rather than macroeconomic factors.
The European Banking Authority's remit had been undermined by national oversight bodies acting "out of misguided national pride", which had led to inaccurate stress tests, she said.
"If we need European institutions that provide better oversight of banks, we have to be prepared to give up more national supervision," Merkel told a meeting of conservative supporters from the German business world in Berlin.
The centre-right chancellor again rejected calls for common euro zone bonds, calling the debate an unwelcome distraction, and added that her country could not condone proposals that would only exacerbate the sovereign debt crisis.
"Germany - and I can say this for the whole country - is prepared to do more on integration but we cannot get involved in things which I am convinced will lead to an even bigger disaster than the situation we are in today," said Merkel.
Latest News & Stories
- Netflix silent on reported Spain launch
- Lidl celebrates 20 years in spain with new store
- Airline declares 'No interest in flying to Castellon Airport'
- Most Catalans would vote to stay in Spain: poll
- Losses at Spain's 'bad bank' raise prospect of slow turnaround
- Paramount Murcia boss denies importance of Corvera Airport
- 10 Spanish Banks Reported for Illegal Fees
- Spain citizenship offer is 'empty gesture'
- Man drives car into PP HQ
- EC Slams 'Wasteful Spending' at Spanish Airport
- Applying for an EHIC Card as a Spanish Resident
- What is the Euribor ?
- When you can’t pay the Mortgage