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 5 March 2015
- 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
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
- Supermarket Mercadona sees brighter Spanish outlook
- Mortgage foreclosures up 7.4% in 2014
- Spain's De Guindos says next steps for Greece point to 3rd rescue
- Spain repays EU debt early
- Spain drives more efficiently during financial crisis : report
- "Crisis in Spain not over" : President of EC
- Former Ukraine Finance Minister arrested on Spanish coast
- 4 out of 5 Spaniards feel no improvement in economy
- Five Spaniards drop out of ‘Forbes’ list
- TiVo, Vodafone Spain reach deal to update Ono smart TV offer
- Applying for an EHIC Card as a Spanish Resident
- What is the Euribor ?
- When you can’t pay the Mortgage