Custom Search
Enter in your TriCounty Telecom Email
Username: 
Password:
  Remember me 
Not a customer? Click Here
MORE FINANCE
CAPE TOWN (Reuters) - A two-day wildcat strike at a ......
"For the first time in nearly two years, a licensed ......
thumbnail
LONDON (Reuters) - Vodafone posted the largest ever fall ......
thumbnail
TAMPA, Florida (Reuters) - As final ballots come in on a ......
thumbnail
SAN FRANCISCO (Reuters) - Amazon.com Inc has been given a ......
thumbnail
MUMBAI/BANGALORE (Reuters) - IT outsourcing company iGate ......
thumbnail
TOKYO (Reuters) - Sprint Nextel Corp said its Japanese ......
thumbnail
"Due to the tragic events this afternoon in Oklahoma, ......
thumbnail
Lyric Theatre paid about $65 million for Foxwoods, ......
thumbnail
The defense has said it wants to track 19-year-old ......
ADVERTISEMENT
Today's Business Headlines

Share|
EU says no plans to activate funds for Spanish banks
Thursday, April 19th, 2012 at 10:50am

BRUSSELS (Reuters) - The European Union has no plans to activate its emergency funds to recapitalize Spanish bank and Spain had no need to appeal for funds to do so, the European Commission said on Thursday.

"There is no plan to activate the EFSF or the ESM to support or recapitalize the Spanish banks," Commission spokesman Olivier Bailly said in answer to a question, referring to its rescue funds, the European Financial Stability Facility and its successor, the European Stability Mechanism.

The spokesman told a regular briefing the EU would only activate funds for any country if bank recapitalization was not possible on the markets and if a government did not have the means to do so itself.

"This is not the case for Spain. This is not necessary for Spain, we believe," Bailly said.

(Writing by Philip Blenkinsop; editing by Rex Merrifield)

Share |
ADVERTISEMENT