On behalf of his government Spanish Finance Minister Luis de Guindos requested formally transfer of assistance founds to Spanish banking system. The official request for 100 billion euro was submitted to Jean-Claude Juncker- Chief of Eurogroup. Last week valuation auditors informed that cost of rescuing Spanish banking system might reach 62.0 billion euro. Earlier this month euro area countries committed to decision of recapitalizing Spanish banking sector in order to avoid Greek situation. Single currency remained lower against USD after Spain requested officially for help. Couple was traded at 1.2484 in the early afternoon trade.
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