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Europe Live Thursday 23rd May 2013

The Eurogroup's support to Spain

11th June 2012

On 9th June the Eurogroup announced that it was prepared to help Spanish banks. The European Financial Stability Facility, then the European Stability Mechanism may lend up to 100 billion euro to the banking system. Eurogroup also said it was pleased with the work undertaken by the Spanish government in its bid to settle the financial crisis and called for a continuation of these reforms, notably budgetary, so that balance could be found again. Prime Minister Mariano Rajoy said on 10th June that he "was extremely satisfied" with this decision.

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