Spain asks for aid to recapitalise banks

Luis de Guindos, Spanish economy minister, on 25 June 2012 formally requested assistance from the country’s eurozone partners to help recapitalise Spanish domestic banks, which are burdened by bad loans to property and construction companies and by a continuing sovereign debt crisis.

The Irish Times, 25.6.12: Spain formally applies for €100 billion bank bailout http://www.irishtimes.com/newspaper/breaking/2012/0625/breaking16.html

The Guardian, 25.5.12: Eurozone crisis live: Spain formally requests banking aid http://www.guardian.co.uk/business/2012/jun/25/spain-banking-aid-draghi-hollande?newsfeed=true

ESO: Background information: Madrid moves to ease bailout fears / ECB to relax loan rules for Spanish banks http://www.europeansources.info/record/madrid-moves-to-ease-bailout-fears-ecb-to-relax-loan-rules-for-spanish-banks/

Deutsche Welle, 25.6.12: Spain officially requests bailout for its banks http://www.dw.de/dw/article/0,,16048142,00.html

The Washington Post, 25.6.12: Spain formally ask fellow eurozone countries for rescue loans for its banks, no figure given http://www.washingtonpost.com/business/markets/spain-to-formally-ask-fellow-eurozone-countries-for-rescue-loans-for-its-banks/2012/06/25/gJQAJTtD1V_story.html

EUObserver, 25.6.12: Spanish finance sector to face reforms in return for aid http://euobserver.com/19/116746

ESO: Background information: Spain seeks eurozone bailout / Rajoy defends ‘victory’ for EU credibility / Doubt clouds robust Spain bailout http://www.europeansources.info/record/spain-seeks-eurozone-bailout-rajoy-defends-victory-for-eu-credibility-doubt-clouds-robust-spain-bailout/

EurActiv, 26.6.12: Cyprus, Spain turn to Brussels for rescue funds http://www.euractiv.com/euro-finance/cyprus-fifth-member-group-debt-news-513543

El País, 25.6.12: Madrid makes formal request for banking-sector bailout http://elpais.com/elpais/2012/06/25/inenglish/1340619490_471457.html

European Commission: MEMO/12/486: Statement by Vice-President Olli Rehn on the request by Spain for financial assistance for recapitalisation of financial institutions http://europa.eu/rapid/pressReleasesAction.do?reference=MEMO/12/486&format=HTML&aged=0&language=EN&guiLanguage=en

Council of the European Union: Statement by the Eurogroup, 27 June 2012 http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/131309.pdf

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