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- USD weekly currency update - 6 March 2015
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- QROPS 2014
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- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Spain Has Specific ‘Problems’ With Banks
Spain has specific problems with its banking industry and should recapitalize lenders through the European stabilization fund, known as EFSF, German Finance Minister Wolfgang Schaeuble told El Pais in an interview.
Europe won’t be able to set up a banking supervisor this year that could oversee aid sent directly to Spanish banks with the help of the European Central Bank, Schaeuble told the newspaper.
Funds that are channeled through the EFSF will be loans and not donations and will count towards Spanish debt even though they come with soft terms, Schaeuble told the newspaper.
To talk about what happens when the European banking supervisor is up and running would be “building castles in the sky” and officials need to work within the existing regulatory framework, he told El Pais. Spain is doing what it needs to and speculation about whether the country will require a full bailout is irresponsible, Schaeuble said.
Latest News & Stories
- British Bobbies to Lend a Hand Policing Spain
- Android recovers market share in Spain as Windows plummets
- Women in Spain earn 17% less than men
- Spain ready to join Muslim countries to confront terrorism
- Bar in Spain advertises for waitresses: 'Big breasts necessary'
- 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