 |
| Source: .tucapital.es |
In 2012, the European Union gave Spain 100,000 million euros for our banks. Thanks to their help the economy in Spain didn't sink: small and medium enterprises, as well as us, citizens, didn't lose our savings.
The banks that were in a bad situation were Bankia, Novagalicia Banco, Catalunya Caixa y Banco de Valencia.
What does "rescue money" mean? It means that the countries with more economic power help others that are poorer. It's money that we have to give back to them, it's a loan.
This was the fourth time the EU had had to give "rescue money" to one of its countries.
Thanks to that, we didn't lose as much money as we would have.
In October 2012, the European Stability Mechanism (ESM), a permanent rescue fund, became operational. The ESM is designed to protect the long-term financial stability of the euro area.
 |
| Source: El País |
 |
| Did you like this? Send us a tweet! |
Sources:
https://www.government.nl/topics/restoring-europe-to-financial-health/contents/healthy-public-finances/european-rescue-funds
http://economia.elpais.com/economia/2012/06/09/actualidad/1339230670_176850.html
No comments:
Post a Comment