The troika, which comprises of the European Commission, the European Central Bank and the International Monetary Fund, will be monitoring Spain's request for a EUR 100 billion bailout for its banking sector, European Union Competition Commissioner Joaquin Almunia said Monday.
"Whoever gives money, never gives it for free," Almunia said in an interview to the Cadena Ser radio. "They want to know what is done with the money."
Further, Almunia, who is also Spanish, said the loans will come with strict conditions, which are yet to be finalized.
The EU official's comments are in contrast to the government's stance. Earlier, the Spanish government had indicated that the bailout would not impose any new austerity measures on the country already under the pressure of several economic problems including recession and high unemployment.
For comments and feedback contact: editorial@rttnews.com
Economic News
What parts of the world are seeing the best (and worst) economic performances lately? Click here to check out our Econ Scorecard and find out! See up-to-the-moment rankings for the best and worst performers in GDP, unemployment rate, inflation and much more.
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.