|
BFA-Bankia published its financial accounts as of 30 June 2012, pursuant to its obligations under the Spanish Securities Markets Law. As expected, these published figures show continued financial strain on BFA-Bankia. These figures confirm the importance of the Financial Assistance of up to EUR 100 billion for the Recapitalisation of Financial Institutions, which was agreed and entered into operation in July, in providing a credible and readily available backstop for the Spanish banking sector. The Eurogroup welcomes reiteration by the Spanish authorities, and the statement by the Board of BFA-Bankia, of their firm commitment to complete the restructuring plan for BFA-Bankia by October, as foreseen by the Memorandum of Understanding. This will allow the restructuring plan to be approved...
|