Spain makes formal request for EU bank aid

MADRID Tue Dec 4, 2012 12:02am IST

Thousands of protesters wave flags and carry banners during a rally against government cutbacks for disabled people in Madrid December 2, 2012. REUTERS/Andrea Comas

Thousands of protesters wave flags and carry banners during a rally against government cutbacks for disabled people in Madrid December 2, 2012.

Credit: Reuters/Andrea Comas

Related Topics

Stocks

   

MADRID (Reuters) - Spain on Monday requested formally the disbursement of 39.5 billion euros of European funds to recapitalise its crippled banking sector, the Economy Ministry said in a statement.

The money - 37 billion euros for the four nationalised banks Bankia (BKIA.MC), Catalunya Banc, NCG Banco and Banco de Valencia BVA.MC and 2.5 billion euros for the so-called "bad bank" - should be paid to the state's banking fund FROB around December 12, it added.

Euro zone finance ministers are expected to approve the disbursement later on Monday when they meet in Brussels for their monthly meeting.

(Reporting By Jesús Aguado; Editing by Julien Toyer)

FILED UNDER:

Economic Pulse

REUTERS SHOWCASE

Nifty Above 8,600

Nifty Above 8,600

Nifty hits record high above 8,600; state-run lenders gain  Full Article 

Indian in Iraq

Indian in Iraq

India says no contact with 39 men held by Islamic State in Iraq.  Full Article 

Sahara Issue

Sahara Issue

Sahara looks to raise $650 million loan to fund bail.  Full Article 

Bhopal Tragedy

Bhopal Tragedy

Bhopal's toxic legacy lives on, 30 years after industrial disaster.  Full Article 

Essar Group

Essar Group

Exclusive - Essar's planned oil-for-steel deal tests Iran sanctions  Full Article 

Islamic Fund

Islamic Fund

India gets new Islamic equity fund but debt market still off-limits  Full Article 

Fiscal Deficit

Fiscal Deficit

April-October fiscal deficit nears 90 pct of full-year target  Full Article 

Oil Prices

Oil Prices

Oil hits new four-year low post OPEC as glut looms  Full Article 

Gold Imports

Gold Imports

India eases gold import rule in surprise move.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device  Full Coverage