Spain confirms banks to get eurozone aid plan

09/06/12 20:49 CET

world news

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The Spanish finance minister has confirmed the country’s request for help for its troubled banks from the rest of the eurozone.

Luis de Guindos told a news conference that Madrid was looking for support, not a rescue, adding that there were no demands for economic or fiscal reforms in return.

This would make it different from international bailouts to Greece, Ireland and Portugal.

The amount will be determined by the rest of the eurozone. The minister said reports that 100 billion euros would be available was a maximum amount.

Earlier eurozone finance ministers held a conference call to discuss the issue.

Spain is under pressure to act before next weekend’s Greek elections. Some fear the outcome may trigger a break-up of the eurozone.

More about: Banking, Economic crisis, Spain, Spanish debt, Spanish economy

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