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EU aid to hit Spanish Banks by December

Tue 30th Oct 2012
EU aid to hit Spanish Banks by December

The first phase of an EU aid package to assist the reformation and strengthening of Spanish Banks - and the wider economy in Spain - is expected to reach the treasury in around 4 weeks time.

A Government Spokesperson said how the European Commission was expected to approve the banking reforms by mid-November, with authorisation for payment of the 1st installment of €100 billion to be made shortly after.