Memo: Statement by the EC and the ECB following the conclusion of the fifth review of the financial assistance programme for Spain

A delegation from the European Commission, in liaison with the European Central Bank, carried out the fifth and final review of the financial sector assistance programme for Spain from 2 December to 13 December 2013.

The International Monetary Fund also participated in the review, fulfilling its role as an independent monitor. Meetings were also attended by the European Stability Mechanism and the European Banking Authority. The positive assessment of steadfast programme implementation that formed the basis of the Eurogroup statement of 14 November has been maintained through the final review. Spain has pulled back from severe problems in some parts of its banking sector, thanks to its reform and policy actions, with the support of the euro area and broader European initiatives.

ESO: Background information: Statement by the EC and the ECB following the conclusion of the fourth review of the financial assistance programme for Spain http://www.europeansources.info/record/memo-statement-by-the-ec-and-the-ecb-following-the-conclusion-of-the-fourth-review-of-the-financial-assistance-programme-for-spain/

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