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Spain is to be given a first instalment of its eurozone bank bailout worth 30 billion euros (37 billion dollars) by the end of the month, Eurogroup President Jean-Claude Juncker said early Tuesday.
Conditions attached to the eurozone aid package, worth up to 100
billion euros in total, would be finally approved "in the second half
of July," Juncker said.
The Eurogroup panel of eurozone finance ministers also agreed to
give Spain one extra year - until 2014 - to reach a European Union
target of reducing its deficit to 3 per cent of its gross domestic
product, the Luxembourg premier said.
