The taxpayer-backed rescue plans for four more Spanish banks have been approved by the European Commission.
In a report released on Thursday (19 December), the EU executive said that plans for BMN, Caja3, Banco CEISS and Liberbank complied with EU state-aid rules.
The Spanish government has pumped in over €1.8 billion into the four banks representing less than 30 percent of the €6.2 billion capital shortfall identified in the stress tests carried out in September by the managemen...
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Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.