Arab Today, arab today eu spain meet privately on bailout
Last Updated : GMT 09:31:23
Arab Today, arab today
Arab Today, arab today

EU, Spain meet privately on bailout

Arab Today, arab today

Arab Today, arab today EU, Spain meet privately on bailout

Brussels - UPI

European officials are working privately to prepare Spain to meet lender bailout demands ahead of a financial audit report, officials told the Financial Times. The talks between Madrid and officials of the European Commission, the European Union\'s executive body, are intended to make sure Spain creates structural reforms, demanded by the European Union, European Central Bank and International Monetary Fund, in case Spain formally requests a bailout, the officials said. This would essentially give Spain bailout preapproval before it asks, the officials said. The details of the structural reforms were not disclosed. They are to be unveiled Thursday and will not focus on new taxes or spending cuts, the FT said. \"It is a kind of \'proto-program,\' if such were needed,\" an official told the newspaper. The day after the bailout program is made public, Spain is expected to announce results of a three-month review of its financial system. The EC could still request more austerity measures next month to meet existing EU budget targets that Madrid is expected to miss, the FT said. Spain\'s central bank said last week the country\'s public debt in the second quarter topped $1 trillion for the first time ever. The figure was equivalent to 75.9 percent of Spain\'s gross domestic product, 3 percentage points more than the same period last year and the highest ratio since 1913, when it stood at 77 percent. EU preapproval of a bailout is intended to help Spanish Prime Minister Mariano Rajoy, the newspaper said. Rajoy has said he doesn\'t want a bailout because of the tough conditions it would imply. European Central Bank President Mario Draghi said Sept. 6 the eurozone\'s central bank was prepared to buy Spanish and Italian government bonds in \"unlimited\" quantities, but only if a government asked for the help and only if it agreed to eurozone reform requirements. Spanish officials have for months tried to get EU assistance without significant strings attached but have faced stiff resistance from Germany and other northern European countries. Spanish officials are discussing a possible loophole -- using some of the $130 billion in promised bank-bailout money to buy Spanish sovereign debt, which would essentially mean getting sovereign bailout money through the back door with no strings, the FT said. EU officials had no immediate comment. Spain sold $6.2 billion of three- and 10-year bonds Thursday, more than the $5.8 billion it had estimated for the sale. The 10-year bonds were priced to yield 5.666 percent, almost a full percentage point below the 6.647 percent the bonds received at a similar auction Aug. 2. The lower yields suggest investors are increasingly comfortable holding Spanish debt, economists say.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today eu spain meet privately on bailout Arab Today, arab today eu spain meet privately on bailout

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday