Following Ireland becoming the first EU country to exit assistance, Spain is also expected to stop receiving international aid in January 2014 due to improvements in its national banking system. According to a report by Hong Kong's Wen Wei Po on December 18, the European Commission, European Central Bank, and International Monetary Fund (IMF) provided a 100 billion euro (approximately 835.4 billion RMB) assistance plan to Spain, which was deeply mired in the European debt crisis, for a period of one and a half years in 2013. An assessment report released on the 16th indicated that the restructuring of Spain's banking system is progressing well, and international organizations will cease assistance in January 2014.
Although the economic imbalance in Spain remains severe, with tightened credit for households and small to medium-sized enterprises, and high levels of private sector debt. The assessment report states that the Spanish banking sector still requires ongoing and in-depth diagnostics of its resilience to shocks and solvency. The European Commission, European Central Bank, and International Monetary Fund (IMF) will continue to monitor its financial and economic reforms and urge the government to deepen reforms to ensure that economic activity gradually regains vitality.Investment involves risks, the above information is for reference only
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