1) “Merkel dashes hopes of direct recapitalization for Spanish banks”

by Javier Carro

Topics: Economy, Frontpage

1)      “Merkel dashes hopes of direct recapitalization for Spanish banks”

German Chancellor Angela Merkel ruled out the possibility of Spain benefitting retroactively from allowing the euro zone´s rescue fund to directly recapitalize banks.

That means that the loan of up to euros 100 billion, Spain will receive from its European partners, will remain on the government´s books at a time, when it is already struggling to tame the budget deficit and put a cap on public debt. ∎

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