Eurozone finance ministers have been asked to implement the decisions taken by the EU Council on 29 June. On 9 July, the Eurogroup is likely to focus on two key topics: the implementation details of the official loans for the Spanish banks (including their timing, conditions and interest rate) and the conditions and modalities of potential EFSF/ESM interventions. The latter issue could prove to be tougher to negotiate than the former given opposition from some countries like Finland and the Netherlands, although under the ESM “emergency procedure” a 85% majority of stakeholders should be enough to take decisions. ... (full story)