Current Weather
The Spy FM

Spain, Eurozone Agree To ‘Financial Support’

Filed by KOSU News in World News.
June 9, 2012

Spain will ask, and European finance ministers will agree, to offer up financial aid for the country’s struggling banks.

Spanish and eurozone officials announced their intentions after a three-hour emergency conference call on Saturday. If they make good on it, Spain will be the fourth – and largest — member of the 17-nation eurozone to receive outside help as Europe’s debt crisis marches on.

Spanish Economy Minister Luis de Guindos said the aid would go to the banking sector only, with no austerity conditions attached. Spanish leaders are staying away from words like “rescue” and “bailout.” Instead, The New York Times reports, De Guindos referred to “financial support”:

“This has nothing to do at all with an absolute bailout,” he said “It is financial support aimed and given to the Spanish bailout fund and the Spanish bailout fund will inject this capital to those Spanish institutions that require it as stated by the International Monetary Fund.”

No one is giving numbers on how much Spain will request yet – that will have to wait until an independent audit of Spain’s banks is conducted, de Guindos said. According to the AP, however, he did say “that Spain would request enough money for recapitalization, plus a safety margin that will be ‘significant.’”

Lauren Frayer reported to our Newscast desk that eurozone finance ministers say Spain is being offered up to $125 billion. That money would help shore up local lenders weighed down by bad real estate debt. [Copyright 2012 National Public Radio]

Leave a Reply

9AM to 10AM The Takeaway

The Takeaway

A fresh alternative in morning news, "The Takeaway" provides a breadth and depth of world, national and regional news coverage that is unprecedented in public media.

Listen Live Now!

10AM to 11PM On Point

On Point

On Point unites distinct and provocative voices with passionate discussion as it confronts the stories that are at the center of what is important in the world today. Leaving no perspective unchallenged, On Point digs past the surface and into the core of a subject, exposing each of its real world implications.

View the program guide!

11AM to 12PM The Story

The Story

The Story with Dick Gordon brings the news home through first-person accounts. The live weekday program is passionate, personal, immediate and relevant to listeners, focusing on the news where it changes our lives, causes us to stop and rethink, inspires us.

View the program guide!

Upcoming Events in your area (Submit your event today!)

Streaming audio and podcasts

Stream KOSU on your smartphone

Phone Streaming

SmartPhone listening options on this page are intended for many iPhones, Blackberries, etc. with low-cost software applications available to listen to our full-time web streams, both News on KOSU-1 and Classical on KOSU-2.

Learn more about our complete range of streaming services

We're perfecting the patient experience - Stillwater Medical Center