Spain more likely to tap ESM bailout fund: German government

BERLIN (Reuters) – Spain is more likely to tap the euro zone’s new permanent bailout facility, the European Stability Mechanism (ESM), than the current vehicle, the European Financial Stability Facility (EFSF), a spokesman for the German Finance Ministry said. The 17-nation euro zone agreed on Saturday to lend Spain up to 100 billion euros for its bank rescue fund in an attempt to reassure investors and erect a new firewall in the currency bloc’s sovereign debt crisis. …
Politics News Headlines – Yahoo! News

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