Bailout to diminish Spanish banks
EU’s $47.5 billion in loans comes with strings attached
Posted: November 29, 2012 at 3:19 a.m.
Pedestrians are reflected in windows of the Bankia bank headquarters in Madrid on Wednesday. European Union authorities approved almost $48 billion in bailout loans for four of Spain’s struggling banks, including $23 billion for Bankia.
European Union authorities have approved the payment of about $47.5 billion in bailout loans to four of Spain’s struggling banks — provided each of them cuts their loans and investments by 60 percent.
This story is only available from our archives.
Business, Pages 27 on 11/29/2012
(Advertisement)
« Previous Story
Fed survey finds most of U.S. on growth track
A pickup in consumer spending and steady home sales helped lift economic growth in October and early November in most parts of the United States, according to a Federal Res... Read »
Next Story »
Costco sets special $7 dividend payout
Costco will spend $3 billion to pay a special dividend of $7 per share next month ahead of higher tax rates expected in January. Read »
Comments
To report abuse or misuse of this area please hit the "Suggest Removal" link in the comment to alert our online managers. Please read our comment policy.
Use the comment form below to begin a discussion about this content.
Registration is required to make comments. Click here to LOGIN.
You can register for FREE to post comments and receive alerts.