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16 Dec 2013
EU, IMF find Spanish banking sector ready to exit bailout
FXstreet.com (Łódź) - The European Commission and the International Monetary Fund released a joint statement today in which they assured that Spanish financial institutions have met all the requirements necessary for exiting the bailout program as expected, on January 23.
They stated that the 41.3 billion euro aid helped to strengthen the Spanish banking system. Still, the European Commission suggested that "continued in-depth diagnostics of the shock resilience and solvency of the Spanish banking sector remain vital."
The IMF and the European Commission also warned that the continued decline in real estate prices and decreased lending could damage bank profitability over the coming years.
They stated that the 41.3 billion euro aid helped to strengthen the Spanish banking system. Still, the European Commission suggested that "continued in-depth diagnostics of the shock resilience and solvency of the Spanish banking sector remain vital."
The IMF and the European Commission also warned that the continued decline in real estate prices and decreased lending could damage bank profitability over the coming years.