Spain – Massive Rescue Agreed at Euro 100 billion – $125 billion – Forbes

Spain – Massive Rescue Agreed at Euro 100 billion – $125 billion – Forbes.

Spain - Massive Rescue Agreed at Euro 100 billion - 5 billion - Forbes

The news coming out of Brussels this evening is that the EU has offered Spain a rescue package of Euro 100 billion. Spanish daily El Pais reports  that the offer was made during a teleconference of European finance ministers. Holland and Finland apparently tried to argue for tough political conditions on the finance. The form of the agreement sets precedents for both the EU and the IMF in that the accompanying conditions will not impose a new austerity regime.

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