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European finance ministers decided, on October 14, to end the bailout of Spanish banks which was launched in June 2012, reports Cinco Días.
The daily notes, that with this decision, which is expected to be officially announced on November 15, and the termination of the international bailout of Ireland —
… the European Union will have overcome a chapter that prompted many doubts about global finance and the future of the euro [...]. However, Europe cannot be satisfied until it has completed its planned banking union [...] , and Spain cannot consider that its banks have successfully been rescued until credit begins to flow to economic agents, notably SMEs and families.
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