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Emergency loans for Spain only for the banks

Holland Gold
Holland Gold
20 Jul. 2012

The 100 billion euros in emergency loans for Spain can only be used to support weak Spanish banks. This is according to a spokesperson for the European Commission, after there were rumors in the media that the money could also be used for other purposes.

The German Bundestag has now also approved the rescue package for the Spanish banks. Germany guarantees 29 billion euros in aid to Spain. This makes Germany the largest contributor to this fund,

Tomorrow, the finance ministers will give their final approval to the emergency aid for Spain.

Source: ad.nl

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