Luis de Guindos , The economy minister of Spain has poured a bucket of water on the speculation that they are about to request for a bailout from the sector of banking of the country. He further added that till date no decision would be taken until and unless the audits of the banks come to end and this might happen by the end of the month of June.
From the past few days, there were rumours in the air that Spain is going to ask for a bailout from the funds of the eurozone. Around the next week, an International Momentary Fund audit of the banks of Span will be coming out. Guindos said that the complete reports will come out only after two weeks from it.
About the meeting of the eurzone that was held in Brussels, the minister told the reporter that he had no done no discussions about any kind of intervention in the working of the banks of Spain. When he asked that whetehr or not Span is prepared with any kind of a request to the European Unison, he cleared the air that they have no done any kind of preparation as of now and were going with the flow along the road.
After these comments came, the shares of the leading companies of Spain wet up by 3 per cent in the trading that is done in the morning at the Madrid stock exchange. Nevertheless, there are talks that the condition is not so strong that it would be able to work for long without any bailout. In order to strengthen its capital buffers of the banks, Span us trying to get in more of 80 billion euros that is 100 billion dollars or 65 billion pounds. The situation is very much full of confusion speed e loans @ http://www.speedeloans.org.uk/ have very flexible terms and conditions under this the repayment plan of the funds can be designed by the borrower according to its comfort.
Around 2-3 days back, the finance minister of Span informed that the market of credit were slowly shut down for his country which meant that they were also forced in order to join Portugal, Ireland and Greece in order to use the European Financial Stability Facility.
A test is going to be conducted soon with Spain where there is going to be the auction of the bonds whose worth would be 2 billion euros.
A day or two ago, the European Commission gave a proposal that was formulated in order to out a full stop on the money of the tax payers that was being used to bailed out the banks that had failed.