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Spain "Will need less than €40 bln aid"

Source: Reuters - Mon 19th Nov 2012
Spain 'Will need less than €40 bln aid'

Spain will probably tap less than €40 billion of aid from the euro zone's rescue fund to help recapitalise its banks, Deputy Economy Minister Miguel Temboury said on Monday.

Spain has agreed a credit line that could provide up to €100 billion in euro zone rescue funds for its banks.

"It seems likely that we need less than €40 billion," Temboury told a conference in Brussels, although he declined to give more details.

Comment on this Story

 
It may need only €40bn to recapitalise the banks but it will need €300bn to recapitalise the economy !
Steve Laird - Tue, 20th Nov 2012