Breaking News

Tweet TWEET

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.''

To contact the editor responsible for this story: Kevin Costelloe at kcostelloe@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.