Madrid needs an advance from Europe. Spain to ask "soon" for a first tranche of the 100 billion aid package made available by the Eurogroup to support the country's banking system. This was announced by a spokesman for the Spanish Ministry of Economy, without however specifying the amount of the request.
“The Bank of Spain – explained the spokesman – is analyzing” the situation of the nationalized banks. The first institution to receive funds will be Bankia, close to bankruptcy due to the toxic securities in the portfolio related to the real estate sector.
In the morning, sources of the European Commission had clarified that an early intervention could be decided in the event that "a Spanish bank could not wait for the first disbursement expected in November".
According to analysts, Spain needs EU funds for Bankia as soon as possible, because the uncertainty about the matter will further increase Madrid's costs for financing itself on international markets.
