Madrid will inject six billion euros in public funds to help banks

French newspaper LeMonde translated in English:

One day after the green light to the injection of 4.5 billion euros in Bankia , theSpain continues its momentum. It will inject 6 billion euros in public funds to helpthe banking sector “in the coming days” , said a spokesman for the Ministry of Economy, Tuesday, Sept. 4. Financing of public fund (Fondo de Reestructuraciónordenada Bancaria , FROB) will be done through “cash or debt service” .

The increase of € 6 billion was certainly included in a decree adopted by the government in February, but had hitherto not been started. “Until now, there was no need to do . This is done now because it is now necessary “ , said the spokesman, refusing, however, to establish a direct link with the rescue of Bankia.

2 responses to “Madrid will inject six billion euros in public funds to help banks

  1. Great blog post. I’m always impressed with the quality of information on here!

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