Arab Today, arab today imf\s lagarde welcomes credible eurogroup aid for spain
Last Updated : GMT 22:53:23
Arab Today, arab today
Arab Today, arab today

IMF\'s Lagarde welcomes \"credible\" Eurogroup aid for Spain

Arab Today, arab today

Arab Today, arab today IMF\'s Lagarde welcomes \"credible\" Eurogroup aid for Spain

Washington - AFP

IMF chief Christine Lagarde on Saturday hailed what she called the "credible" 100-bln-euro financial lifeline Spain sought from the Eurozone. "I strongly welcome the statement by the Eurogroup, which complements the measures taken by the Spanish authorities in recent weeks to strengthen the banking system. Providing a credible back stop to recapitalize weaker segments of the banking system has been a key recommendation of the IMF's recent Financial Sector Assessment Program (FSAP) conducted in Spain," said Lagarde, the IMF managing director. Lagarde also had words of praise for the operation's scope. "The willingness of Spain's Euro Area partners to financially support the Fund for Orderly Bank Restructuring (FROB) with up to EUR 100 billion is a crucial step for the success of the Spanish authorities' strategy. This scale of proposed financing, which is consistent with the capital needs identified in the FSAP, gives assurance that the financing needs of Spain's banking system will be fully met," she stressed. Earlier Saturday, Spain formally requested a European lifeline of up to 100 billion euros ($125 billion) to save its stricken banks and try to avert a broader financial meltdown. Fellow finance ministers in the 17-nation eurozone accepted the plea in a statement released after an emergency video conference lasting more than two hours. "The Spanish government declares its intention to solicit European financial help for the recapitalization of those banks that need it," Economy Minister Luis de Guindos told a news conference. Successive Spanish governments had vehemently denied they needed any outside aid. Prime Minister Mariano Rajoy's conservative government finally had to bow to rising pressure from world leaders and global markets, which have sent its borrowing costs soaring.

arabstoday
arabstoday

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 imf\s lagarde welcomes credible eurogroup aid for spain Arab Today, arab today imf\s lagarde welcomes credible eurogroup aid for spain

 



Arab Today, arab today

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 imf\s lagarde welcomes credible eurogroup aid for spain Arab Today, arab today imf\s lagarde welcomes credible eurogroup aid for spain

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan
Arab Today, arab today
Arab Today, arab today
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