Eurozone reaches an agreement on direct recapitalization of banks


 ds.jpg

Eurozone member states reached a political agreement this week on how to apply direct recapitalization of banks by the rescue fund in the eurozone.
This instrument, designed to save banks without affecting state budgets, was promised by European leaders in June 2012, and Spain was firmly  interested.
The country benefited in the spring of 2012 a loan of 40 billion euros for banks in difficulty. Two years later, there was less demand and the mechanism remained retrospective.
"Direct Recapitalization by European Stability Mechanism is based on the main elements on which an agreement was reached in 2013 between finance ministers of the eurozone," said Eurogroup in a statement.
Eurozone reaches an agreement on direct recapitalization of banks Eurozone reaches an agreement on direct recapitalization of banks Wednesday, June 11, 2014 Rating: 5
Powered by Blogger.