Spain: While traders initially cheered the plan to save Speaking language financial institutions, many details remain to be completed, including how much money the financial institutions will need.
European Union finance ministers agreed Saturday to lend up to €100 billion to the Speaking language bailout fund to recapitalize bankrupt financial institutions. But the amount needed will not be known until an external audit of the financial institutions is completed later this month.
It's also uncertain how the loans will impact the Speaking language national credit ratings score, although the save will not involve any new austerity measures. Investors are on the lookout for another reduce or eliminate of Speaking language debt after Fitch cut the nation's credit ratings score to one step above junk status last week.
