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- Daily brief -Wednesday 25 November 2015
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
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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
- Valencia town votes against fiestas with bulls at local referendum
- Ministry had warned of suicide risk in cell where British tourist died
- Government not ruling out further counter-terrorism measures
- Spanish retailers cheer signs of Christmas recovery
- Spanish economic growth improved from Q3 in October
- Spain's trade deficit falls by 1.1% up to Sept
- Spain’s road accident death toll already past 1,000 victims in 2015
- Three babies die of whooping cough in Spain within two months
- Guardia Civil divers and sniffer dogs search river for missing Scot
- Suspected Paris Attacks Organiser Recruited Spaniards Online