Bloomberg News

Eurogroup Confirms Spanish Aid Up to 100 Billion Euros

June 09, 2012

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


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