Webmaster ·  Station Info ·  What's on TV ·  Make Us Your Home
Home  ·   Weather  ·   News  ·   Morning Show  ·   Sports  ·   Station  ·   Contests  ·   Local  ·   Features  ·   Blogs  ·   23 Morning Blend  ·   Economy  ·   Epros
E-News · Mobile News · Entertainment · Politics · Schools · Crime Stoppers · Go Green · Innertube
Average Gas Price
Per Gallon
  
Prices by automotive.com
Spain: Plan to Help Banks will Cost Taxpayers Zero Save Email Print
Posted: 8:06 AM Oct 10, 2008
Last Updated: 8:06 AM Oct 10, 2008

A | A | A

MADRID, Spain (AP) -- Spain's government says a 30 billion euros ($41 billion) fund it will use to buy assets from banks starved for liquidity will not cost taxpayers a cent.

Deputy Prime Minister Maria Teresa Fernandez de la Vega says this is so because the government will buy only quality assets and be able to resell them once financial markets settle down and the economy rebounds.

She spoke after the Cabinet approved creation of the fund Friday and also raised Spain's bank deposit guarantee limit from 20,000 euros ($27,000) to 50,000 euros ($68,000) in a bid to shore up confidence.

More Stories
Body Found in Rock River

Remembering JFK Assassination

Families Lend A Helping Hand

Two Oregon Parks Slated to Close

Family Holds Benefit for Loved One

Loves Park Sports Complex Opens

Youth Summit

Flood Cleanup Continues

Post Your Comments
First Name:
Location:
Enter Comments: characters left
Email (optional):
Email will not be displayed on site. For station contact purpose only.
AP Online Video LC