22/07/2012
Euro zone finance ministers reached an agreement on a loan worth up to 100 billion euros to help Spain in the restructuring of it bank liabilities. The agreement was reached in a telephone conference on Friday last. It is expected that Madrid will get the first loan, worth 30 billion euros by the end of this month.
Eeuro zone finance ministers agreed on the terms of the program to save Spanish banks. Madrid before the meeting requested the ministers for the approval of aid package.
The Finnish Parliament on Friday debated the rescue plan for Spanish banks and passed it with 109 deputies supporting it and 73 objecting to it. Earlier this week, Finland announced that it reached an agreement to secure the guarantee of up to 770 million euros from Spain in exchange for its contribution to the rescue package. Finland will contribute to the amount of 100- billion-euro package in Span and obtained similar assurances from Greece before agreed to participate in the country's second rescue package.
