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Euro nations seal USD 122 bln bailout deal for Spanish banks

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Press Trust of India Berlin

Finance Ministers of the 17-nation euro group finalised the details of a financial support for Spanish banks in a video conference on Friday, a day after the German parliament endorsed the rescue plan with a large majority.

They shared the view that "providing a loan to Spain for the purpose of recapitalisation of financial institutions is warranted to safeguard the stability of the euro area as a whole," Luxembourg

 

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First Published: Jul 21 2012 | 2:36 PM IST

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