| Author (Person) | Barker, Alex |
|---|---|
| Series Title | Financial Times |
| Series Details | 9.7.12 |
| Publication Date | 09/07/2012 |
| Content Type | News |
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Preview and reports of meetings of Eurozone and EU Finance Ministers in Brussels on the 9 and 10 July 2012 to follow up on decisions amde at the European Council, Brussels, 28-29 June 2012. Article reported that Spain was ready to create a single 'bad bank' to house the distressed assets of its teetering financial sector, as it prepared to finalise terms of an EU bailout that was dividing the eurozone and spooking markets. Eurozone finance ministers reached agreement in the early hours of the 10 July 2012 on the blueprint for Spain’s €100bn bank bailout plan, a deal expected to see the first €30bn in aid from the eurozone’s €440bn rescue fund sent to Madrid by the end of July. Ministers also agreed to grant Spain an extra year until 2014 to reach its deficit reduction targets in exchange for further budget savings. Various personnel issues were also involved. Click on the related url: ESO: Background information: Juncker reappointed to eurozone post for further details. |
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| Subject Categories | Economic and Financial Affairs |
| Countries / Regions | Europe, Spain |
