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German Deputy Fin Min: Europe Will Give Money to Spanish State

Thursday, 19 Jul 2012 | 3:00 AM ET

"The decision of today is quite clear; there is no direct infusion into the Spanish banking system, the European partners will deliver the money to the State of Spain and they will inject the money into the banking system," Steffen Kampeter, Parliamentary Undersecretary of State at the German Ministry for Finance, told CNBC.