FXstreet.com (Barcelona) - German Chancellor Angela Merkel assured on Monday that the German parliament would support granting rescue money to Spanish banks during a special session which will take place on Thursday.
German Finance Minister Wolfgang Schäuble needs to wait until then to confirm before the Eurogroup whether the German parliament approves the payment of 100 billion euros to shore up Spain's distressed banks. A positive vote would allow the minister to unblock the part of the bailout in which Germany is supposed to take part.
Merkel declared in an interview for a German television that the motion will most probably be passed, although she insisted once again that this type of rescue should oblige recipient countries to implement strict austerity measures required by the EU.
German Finance Minister Wolfgang Schäuble needs to wait until then to confirm before the Eurogroup whether the German parliament approves the payment of 100 billion euros to shore up Spain's distressed banks. A positive vote would allow the minister to unblock the part of the bailout in which Germany is supposed to take part.
Merkel declared in an interview for a German television that the motion will most probably be passed, although she insisted once again that this type of rescue should oblige recipient countries to implement strict austerity measures required by the EU.
