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    Spain: banks get cash jobs get slashed

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    euronews (in English)

    by euronews (in English)

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    The European Commission has approved a 37 billion euro bailout for four Spanish banks in exchange for massive job cuts and branch closures.

    The funds approved will be provided by the European Stability Mechanism, the eurozone bailout fund.

    Spain has negotiated a banking bailout worth 100 billion euros but said it won't claim the full amount.

    ...
    http://www.euronews.net/