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Spain : Spain to sign EU bank help deal Friday
Publish Date : 18-Jul-2012
Spain hopes to formally sign an accord with eurozone leaders on providing up to 100 billion euros (US$122 billion) for its stricken banking system on Friday, Economy Minister Luis de Guindos said.
\"We hope to sign formally the memorandum between Spain and the eurozone to inject up to a maximum 100 billion euros into the Spanish banking system,\" Mr de Guindos told a banking forum on Monday.
Last week, the Eurogroup of eurozone finance ministers agreed to a Spanish request for help for its banks, aiming to sign the deal by this Friday and promising an initial 30 billion euros by the end of the month.
They also agreed to give Spain one more year to bring its finances into line with EU norms, with its public deficit to be less than the EU ceiling of 3.0 per cent of Gross Domestic Product by 2014.
