Eurogroup to approve Spanish banking sector bailout


  • World
  • Friday, 20 Jul 2012

BRUSSELS (Reuters) - Euro zone finance ministers are expected to approve an agreement on Friday to lend up to 100 billion euros to Spain so it can recapitalise its banks, but the exact size of the loan will probably only be determined in September.

Ministers are expected in a conference call to sign off on a lengthy memorandum of understanding (MoU) with Spain spelling out the terms of the aid, which will be fully disbursed by the end of 2013.

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