The government of Spain has approved the creation of a €30 billion fund to buy mortgage debt from banks in a bid to help stabilize the industry and keep credit flowing. The fund could be extended to €50 billion if necessary, according to the government.
Deputy Prime Minister Maria Teresa Fernandez de la Vega said that “This is a way to re-establish the normal functioning of our financial system, a decisive way to reactiva... http://bit.ly/6ebs4G
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