Germany to Provide Loans to Spanish SMEs

Germany will grant Spanish small and medium-sized companies (SMEs) aid of roughly 1 billion euros ($1.3 billion) as part of a push to combat rising unemployment in southern Europe, a paper from the finance ministry showed.
The ministry said in a draft of the plan obtained by Reuters on Monday that state development bank KfW would provide loans of 800 million euros as part of the program.

KfW would also provide additional funds aimed at boosting the capital structure of Spanish SMEs, which have struggled to obtain credit from banks weakened by the euro zone debt crisis. These funds still need to be approved for Germany’s 2014 budget.

via CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza