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Spain formally requests European aid for its banks

Final amount of the financial assistance would be set at a later stage: Spain

Reuters  |  Madrid 

formally requested on Monday European aid of up to 100 billion euros for its banks, the Ministry said in a statement.

Spain's Minister Luis De Guindos said in the letter to Eurogroup chairman Jean-Claude Juncker that the final amount of the financial assistance would be set at a later stage but should be enough to cover all banks' needs plus an additional security buffer.

He also confirmed his intention to sign a Memorandum of Understanding for the package, which would include full details, by July 9.

 

First Published: Mon, June 25 2012. 14:07 IST
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