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Eurogroup approves Spanish banking sector bailout
Reuters – Euro zone finance ministers approved the terms of a loan of up to 100 billion euros ($123 billion) for Spain to recapitalise its banks on Friday, but the exact size of the support will only be determined in September. In a conference call, ministers signed off on a detailed memorandum of understanding with Spain spelling out the terms of the aid, which will be fully disbursed by the end of 2013. Read Article
Tags: debt wealth, Europe, financial system
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