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Spanish lottery to raise €6bn for regions’ bailout fund

5th September 2012 7:40 am GMT

The Spanish government plans to use the state-owned national lottery SELAE (Sociedad Estatal Loterías y Apuestas del Estado) to raise up to €6bn to finance its liquidity fund for the autonomous regions.

The Council of Ministers gave its approval Friday to a proposal under which SELAE would seek to raise up to €6bn with international banks, which will be paid into the Treasury to help finance the €18bn bailout fund created by Madrid to support the [...]

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