Eurogroup Confirms Spanish Aid Up to 100 Billion Euros

Euro-area finance ministers today said that their support for Spanish banks could be as much as 100 billion euros ($125 billion).

“The loan amount must cover estimated capital requirements with an additional safety margin, estimated as summing up to 100 billion euros in total,” the Eurogroup said in a statement on the European Union website.

The statement added: ``The Eurogroup notes that Spain has already implemented significant fiscal and labor market reforms and measures to strengthen the capital base of the Spanish banks.''

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