Spain Announces 200 Billion Euro Aid Package to Tackle Virus

Spain Announces 200 Billion Euro Aid Package to Tackle Virus

© Reuters. © Reuters.

By Geoffrey Smith — Spanish Prime Minister Pedro Sanchez on Tuesday unveiled a 200 billion euro ($222 billion) package of measures – worth nearly 20% of GDP – aimed at supporting the economy through its worst crisis in nearly a decade. 

The measures, which follow the announcement of a 300 billion-euro package announced on Monday by French President Emmanuel Macron, include 100 billion euros of state credit guarantees for companies. 

In addition, Sanchez said Spain will block any foreign attempts to take over Spanish companies whose value has fallen as a result of recent market volatility. Stock market regulators earlier Tuesday banned short sales of a selected list of stocks.

Spain has been in almost total lockdown since last week. According to data from Johns Hopkins, the country has over 11,000 confirmed cases of Covid-19 and has registered nearly 500 deaths so far. 

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Latest Category Posts

You May Also Read