FXstreet.com (Barcelona) – Yesterday’s Ecofin meeting had decisions such as the disbursement of the first €30B of the €100B bank bailout for Spain this month, with the funds funneled to the Spanish Government’s rescue fund, while there’s no Eurozone regulator set up to channel the capital directly to the banks. Meanwhile the German Constitutional Court will have its say regarding Germany’s participation in the ESM today. TD Securities analysts also point to the formal Spanish bank bailout agreement to be signed on July 20th. “Leaders also agreed to extend Spain’s deficit targets by a year”, they wrote.
