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MADRID (Reuters) - Spain's Bankia SA is set to ask the state for a more than 15 billion euros ($19 billion) bailout on Friday, marking another rise in the cost of a drawn-out rescue of the country's fourth-biggest bank. The capital shortfall at Bankia is key to a wider funding gap in Spain's banking system, which some investors believe could drive the euro zone's fourth-largest economy to seek ...
MADRID (Reuters) - Spain's Bankia SA is set to ask the state for a more than 15 billion euros (12 billion pounds) bailout on Friday, marking another rise in the cost of a drawn-out rescue of the country's fourth-biggest bank. The capital shortfall at Bankia is key to a wider funding gap in Spain's banking system, which some investors believe could drive the euro zone's fourth-largest economy to ...
Spain will recapitalise BFA-Bankia with as much public money as necessary, as the nationalised group needs at least 9 billion euros ($11 billion) to comply with banking rules, Economy Minister Luis de Guindos said.
Cyprus will not need to request European Union bailout funds, President Dimitris Christofias said in Vienna on Monday. “The Cypriot real economy is not so closely linked to Greece as outsiders perceive,” Christofias told journalists.
MADRID (Reuters) - Spain announced a 9-billion-euro (7.22 billion pounds) bailout for troubled lender Bankia on Wednesday, while also seeking ways to help its highly indebted regions meet huge refinancing needs that threaten to drag the country deeper into the euro zone crisis. Related Stories UK economy contracted more than expected in Q1 BOE's Clark: tougher bank rules may be too hasty New ...
BANKIA NEEDS MORE CAPITAL: Spain's economy minister said Monday that the nationalized Bankia needs to strengthen its capital defenses by as much as €7.5 billion ($9.56 billion), but downplayed the need for bailout from European funds.
Spanish Economy Minister Luis de Guindos rejected European Union pressure this week to take an International Monetary Fund credit line to help shore up the nation’s lenders, the Madrid-based ABC newspaper reported.
Spain's banks do not need to be bolstered with European money as suggested by France, the country's economy minister said today.
Dutch lawmaker to try to nix bailout fund in court Wilders, leader of the Netherlands' third-largest political party, forced the collapse of the all-conservative government last month by walking out of austerity talks he said would hurt the economy to satisfy European budgetary rules. The Netherlands' caretaker Cabinet said Wednesday it plans to ratify the treaty creating the bailout fund, but ...
Germany economy grows strong 0.5 percent in Q1 The government statistics agency says exports helped the economy bounce back from a slight fall in output of 0.2 percent in the fourth quarter of last year. A growing economy is considered the most reliable way to shrink debt burdens like the ones plaguing Greece, Ireland and Portugal, all of which have needed bailout loans to be able to keep paying ...
In Portugal, austerity has meant up to a 30 percent pay cut for civil servants. Unemployment is at more than 15 percent, and the economy continues to shrink. The European Union recently warned the Portuguese people may have to sacrifice even more.
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