Spain and Italy's Troubled Banks Get EU Bailout

June 29, 2012 from Euronews

Italy and Spain meet in Warsaw in the final of the euro 2012 on Sunday. And both countries will be pleased with their performance in the political arena too as the crucial EU summit goes into a final day. The deal allows bailout funds to go directly to banks without further austerity measures being applied.

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European sovereign debt crisis

The European sovereign debt crisis is an ongoing financial crisis that has made it difficult or impossible for some countries in the euro area to repay or re-finance their government debt without the assistance of third parties. In 1992, members of the European Union signed th... Explore this topic

Italy

Italy, officially the Italian Republic, is a unitary parliamentary republic in Southern Europe. To the north, it borders France, Switzerland, Austria, and Slovenia along the Alps. To the south, it consists of the entirety of the Italian Peninsula, Sicily, Sardinia–the two larg... Explore this topic

Spain

Spain, officially the Kingdom of Spain, is a sovereign state and a member of the European Union . It is located on the Iberian Peninsula in southwestern Europe. Its mainland is bordered to the south and east by the Mediterranean Sea except for a small land boundary with Gibral... Explore this topic

Bailout

A bailout is a colloquial pejorative term for giving a loan to a company or country which faces serious financial difficulty or bankruptcy. It may also be used to allow a failing entity to fail gracefully without spreading contagion. The term is maritime in origin being the ac... Explore this topic

Austerity

In economics, austerity describes policies used by governments to reduce budget deficits during adverse economic conditions. These policies can include spending cuts, tax increases, or a mixture of the two. Austerity policies may be attempts to demonstrate governments' liquidi... Explore this topic

European Council

The European Council is an institution of the European Union. It comprises the heads of state or government of the EU member states, along with the President of the European Commission and the President of the European Council, currently Herman Van Rompuy. The High Representat... Explore this topic

Eurozone

The eurozone, officially called the euro area, is an economic and monetary union of 17 European Union member states that have adopted the euro as their common currency and sole legal tender. The eurozone currently consists of Austria, Belgium, Cyprus, Estonia, Finland, France,... Explore this topic

European Union

الاتحاد الأوروبي هو جمعية دولية للدول الأوروبية يضم 27 دولة، تأسس بناء على اتفاقية معروفة باسم معاهدة ماسترخت الموقعة عام 1992 م، ولكن العديد من أفكاره موجودة منذ خمسينات القرن الماضي. من أهم مبادئ الاتحاد الأوروبي نقل صلاحيات الدول القومية إلى المؤسسات الدولية الأوروبية. لكن ... Explore this topic

Bank

A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank is the connection between customers that have capital deficits and... Explore this topic

François Hollande

François Gérard Georges Nicolas Hollande is the 24th and current President of France and Co-Prince of Andorra. He was previously the First Secretary of the French Socialist Party from 1997 to 2008, and the Deputy of the National Assembly of France for Corrèze's 1st Constituenc... Explore this topic

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European sovereign debt crisis

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