Spain asks for aid to recapitalise banks

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Series Details 25.6.12
Publication Date 25/06/2012
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Luis de Guindos, Spanish economy minister, on 25 June 2012 formally requested assistance from the country’s eurozone partners to help recapitalise Spanish domestic banks, which are burdened by bad loans to property and construction companies and by a continuing sovereign debt crisis.

Related Links
The Irish Times, 25.6.12: Spain formally applies for €100 billion bank bailout
The Guardian, 25.5.12: Eurozone crisis live: Spain formally requests banking aid
ESO: Background information: Madrid moves to ease bailout fears / ECB to relax loan rules for Spanish banks
Deutsche Welle, 25.6.12: Spain officially requests bailout for its banks,,16048142,00.html
The Washington Post, 25.6.12: Spain formally ask fellow eurozone countries for rescue loans for its banks, no figure given
EUObserver, 25.6.12: Spanish finance sector to face reforms in return for aid
ESO: Background information: Spain seeks eurozone bailout / Rajoy defends ‘victory’ for EU credibility / Doubt clouds robust Spain bailout
EurActiv, 26.6.12: Cyprus, Spain turn to Brussels for rescue funds
El País, 25.6.12: Madrid makes formal request for banking-sector bailout
European Commission: MEMO/12/486: Statement by Vice-President Olli Rehn on the request by Spain for financial assistance for recapitalisation of financial institutions
Council of the European Union: Statement by the Eurogroup, 27 June 2012

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