About: bank recapitalisation

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Economy & Jobs 11-06-2012

Spain joins ‘the Group of Debt’

It is not a bailout, but a nearly condition-free loan. This is the message sent by the Spanish government after euro zone finance ministers agreed on Saturday to lend Madrid up to 100 billion euros for recapitalising its banks. Following weeks of denying the need for financial assistance, Spanish PM Mariano Rajoy gave in to international pressure. He requested a rescue package that he portrayed as a triumph, but which caused outrage among Spanish citizens.
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