Spanish banking unions brace for more job cuts

MADRID: Spanish banking unions are braced for thousands more job cuts this year, starting with redundancies at Spain's largest bank Santander after its merger with subsidiary Banesto.

European Commission Approves Bailout of Four Spanish Banks

The European Commission on Wednesday approved a payment of €37 billion, or $48 billion, from the euro zone bailout fund to four Spanish banks on the condition that they lay off thousands of employees and close offices as part of their restructuring.

Spain says first bank recapitalisation 37 billion euros

BRUSSELS: The first injection of loans to recapitalise Spain's broken banking system will amount to 37 billion euros (nearly $50 billion), Spain's Finance Minister Luis De Guindos said Monday.

Spain Expects to Tap About $75 Billion in Rescue Financing for Its Banks

MADRID — Spain expects to use about 60 billion euros, or $75 billion, of the 100 billion euros of bank rescue financing offered by European finance ministers in June, according to the Spanish economy minister, Luis de Guindos.

Spain Said to Speed EU Bank Bailout on Collateral Limits

Spain is about to receive an emergency disbursement from the 100 billion-euro ($123 billion) bailout of its financial system because of restrictions the European Central Bank imposed on bank borrowing, according to a person familiar with the matter.