The European Commission published the Fifth Review report of Spain's compliance with the Financial Assistance Programme for the Recapitalisation of Financial Institutions. The report is based on the findings of a joint European Commission / European Central Bank mission to Madrid during 2-13 December 2013.
The mission considered that the positive assessment of steadfast programme implementation has been maintained through the final review. Spain has forcefully addressed severe problems in some parts of its banking sector, thanks to its reform and policy actions and benefitting from the support of the euro area and broader European initiatives. The programme has contributed to restoring financial stability and investor confidence in Spain. As a result, the financial sector programme was completed on 22 January 2014, as initially foreseen.
|ISBN 978-92-79-35354-3 (online)|
Occasional Papers are written by the staff of the Directorate-General for Economic and Financial Affairs, or by experts working in association with them. The Papers are intended to increase awareness of the technical work being done by staff and cover a wide spectrum of subjects. Views expressed in unofficial documents do not necessarily reflect the official views of the European Commission.