The Eurogroup Agreement on Cyprus, which represents a very important step to guarantee the integrity of the euro and its future stability, demonstrates the need to identify, restructure, and resolve non-viable credit institutions. This is precisely what was completed in Spain in 2012 with the Memorandum of Understanding agreed with the Eurozone, which in no case foresees losses for bank deposits.
The Troika (European Commission, ECB, and IMF) has just confirmed in March 2013 the strict compliance with the Memorandum’s agreements. The Spanish banking system therefore deserves the full confidence of depositors, clients, and investors.
AEB banks have cleaned up their assets and increased their balance sheet capital using their own resources, without public capital aid.
