German finmin spokesman: Spain aid deal unlikely July 9

It is unclear whether the Eurogroup will be able to decide on an aid package for Spain's banks at its meeting next Monday as it is still awaiting an expert report on the situation, a German finance ministry spokesman said on Wednesday.

The signature of the Memorandum of Understanding (MoU) regarding a 100 billion euro European bailout for Spanish banks was initially scheduled for July 9, when euro zone finance ministers hold their monthly meeting in Brussels.

But two sources on Tuesday said that a final agreement on aid for Spanish banks may be delayed until July 20, to allow more time for negotiations.

"With Spain, we are currently at the stage of a request," finance ministry spokesman Martin Kotthaus told a regular news conference in Berlin.

Read Full Article from Reuters

- Posted: 2012-07-04 12:33:18

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