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European Commission welcomes Spain's aid request
June 9, 2012 / 7:01 PM / in 6 years

European Commission welcomes Spain's aid request

BRUSSELS, June 9 (Reuters) - The European Commission welcomed Spain’s request for aid for its banks, made to the euro zone’s finance ministers on Saturday, and said it was ready to proceed “swiftly” with necessary assessments and propose appropriate conditionality for the sector.

“We welcome today’s communication by Spain of its intention to request the support of the euro area ... and the Eurogroup’s positive response to this,” European Commission President Jose Manuel Barroso and Economic and Monetary Affairs Commissioner Olli Rehn said in a statement.

“With this thorough restructuring of the banking sector ... we are certain that Spain can gradually regain the confidence of investors and market participants.” (Reporting by Justyna Pawlak; Editing by Jon Hemming)

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