About: banking crisis Archives

  • Political hurdles cleared in Spanish bank bailout

    Euro & Finance 20-07-2012

    The Eurogroup today (20 July) announced it would grant a bailout of up to €100 billion to Spain to help the country recapitalise its banks, following a telephone conference call during which finance ministers gave their backing to the rescue plan.

  • Commission welcomes new austerity measures in Spain

    Social Europe & Jobs 12-07-2012

    A Commission spokesman welcomed yesterday (11 July) the new austerity measures announced by Spanish Prime Minister Mariano Rajoy, but social unrest appears to be a factor to watch in the EU’s fourth largest economy. EURACTIV Spain contributed to this article.

  • Cyprus to get bailout from EU, Russia: President

    Euro & Finance 05-07-2012

    Cyprus President Demetris Christofias said today (5 July) that his country, which has just taken over the rotating EU presidency, would seek financial assistance from both the European Union and Russia. While EU conditions were harsh, Moscow’s help was “not forbidden by EU law” and has no strings attached, he said. EURACTIV.com reports from Nicosia.

  • Belgian KBC bank pushes Slovenia towards bailout

    Central Europe 04-07-2012

    Slovenia appears to be on its way to becoming the sixth eurozone country to request an EU bailout as it seeks to prop up its struggling banking sector, including the country’s largest bank that is partly owned by Belgium’s KBC.

  • Spain joins ‘the Group of Debt’

    Euro & Finance 11-06-2012

    Madrid has secured €100 billion to rescue its banks in an attempt to pre-empt the threat of a bank run if the debt crisis in another troubled country, Greece, flares again. But angry Spaniards accused Prime Minister Mariano Rajoy of ill-timed triumphalism and an inappropriate trip to Poland to watch Spain compete in the Euro 2012. 

  • G7 finance chiefs gather round Spain’s sick bed

    Euro & Finance 05-06-2012

    Finance chiefs of the Group of Seven leading industrialised powers will hold emergency talks on the eurozone debt crisis today (5 June) in a sign of heightened global alarm about the situation in Spain.