• Finland, Netherlands have no ESM majority
• EU institutional complexity is hurting Spain
• Bank aid memorandum of understanding talks well advanced
• ESM will be available to help Spanish banks
• ESM direct injections likely cited in memorandum of understanding
• Interest rate of EU bank aid not part of memorandum of understanding
• Memorandum of understanding may include estimate of FROB banks’ needs
• FROB banks will request capital within weeks
• EU aid will be requested on case to case basis