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Studio interview: EU's 100bln euro bailout to Spain

06-12-2012 14:42 BJT

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Spain's banking bailout is a big blow to a nation that a few years ago took pride as the continent’s economic superstar only to see it become a hot spot in the eurozone debt crisis. In the Spanish town of Sesena, once a mecca of development and dubbed Spain’s Manhattan, the lone bank that took part in its rise closed down two years ago and most storefronts are bricked up. Full story >>

Let's bring back Professor Liu Baocheng to talk more about Spain's banking sector bailout.

Q1. Professor, Spain becomes the fourth eurozone country to ask for financial aid, but the PACE of agreement for the bailout request was quite fast versus Greece, Ireland or Portugal, why is that?

Q2. Greece received the bailouts from the EU with conditions - the government of course needed to implement "austerity measures". In contrast, Spain only needs to restructure its banking industry. Why was this a priority for the EU and what are the implications behind this?

Thanks professor. Professor Liu Baocheng for us from the University of International Business and Economics here in Beijing.


Editor:Zhang Rui |Source: CNTV.CN

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