Spain to pay EU billions back in bailout loans ahead of schedule

The economy ministry has announced that €2.5 billion will be transferred to the European Union

LAST UPDATED: 21 May, 2015 @ 16:59
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EurosTHE Spanish government is planning to pay back a large chunk of money it received in bailout loans in 2012.

The economy ministry has announced that €2.5 billion will be transferred to the European Union to bolster its ailing banks ahead of schedule.

Spain has already reimbursed €2.8 billion in bailout funds it received for its banking sector, despite having a decade to do so.

In total Spain borrowed €41.4 billion to help kickstart its economy.



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5 COMMENTS

  1. Spain is entering a new era where the culture of corruption will be finally be consigned to history.
    National Politicians, Bankers, Lawyers EVEN local town mayors are finally getting the message that fraud and swindling will not be tolerated, financial management and investment will boost the country for the benefit of every resident in Spain!

  2. Dont be lemon lads, the days of getting mugged off by corrupt Spanish officials are ending believe it
    or not!
    The Spanish people are sick to death of corruption in every aspect of their lives and a new generation of decent law abiding Spaniards with a new vision(Podemos) will wipe away the stain of fraud and criminality that has impacted on them for decades.
    The Spanish people are not genetically corrupt, they are decent law abiding citizens, its a FEW greed
    ridden snakes that have caused misery but day by day these snakes are getting caught.

  3. Get REAL, Antony – it’s not a political party that needs change to stop BILLIONS OF EURO political corruption of Public money in Spain – it is the JUDICIAL & POLICE systems that need to improve.At the legal “enforcement” pace they now go, the crooks: alleged, found guilty and appeal do DIE OF OLD AGE before serving jail time or the stolen funds are found (are funds returned to the Public?)
    In Spain, a middle age Politician (or above?) may find that “crime does pay.”

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