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 - Monday 14 April 2014
- The Vegetarian Barbeque and the Unholy Sex
- 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
- Pensioners 'misled' by Co-op Bank
- UK Inflation no problem for Governor Carney
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
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
- Castellon Airport costs Valencia €46,300 per day
- EU sends investigators to Leon Airport
- Germany cancels scheme to attract young jobless from abroad
- Spain Unemployment to take decade to recover
- Less vehicles in Spain travel toll roads
- Spain approves coal subsidies ahead of shutdowns
- Spain’s roads in worst condition since 1985
- Study reveals food and family main reasons behind expat repatriation
- Guardia Civil 'Brit Torturers' face 26 years
- Independent Catalaonia would not become EU member : Brussels
- Applying for an EHIC Card as a Spanish Resident
- What is the Euribor ?
- When you can’t pay the Mortgage