Loans up to EUR 100bn guaranteed
13.10.2008
The Spanish government will guarantee loans from banks up to a maximum of EUR 100 billion in 2008 and will do the same in 2009, for an amount to be defined, while it will be able to acquire shares from financial groups per their recapitalisation, if necessary.
These were the measures included in an emergency decree approved today by an extraordinary meeting of the Council of Ministers at the end of which José Luis Rodriguez Zapatero confirmed in statements to the media that the prospective recapitalization is a "preventative" measure and "of exceptional character", of which at the moment the Spanish financial system does not need.
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