It has been revealed, according to a recent report, that Spain is going to pursue its banks to bear the loss incurred due to its multibillion liberations, just before the upcoming general elections.

It was revealed by the Socialist Government of the nation that the banking sector shall be paying for any sort of losses incurred during the process of reorganizing of the local saving banks. They shall o this with aid of the deposited guarantee funds that are backed with support by the industry.

In a statement, the central bank of Serbia has said: “The decision to further ease monetary policy was taken so that inflation gets back to our target without major volatility”, consequent to a decline in its benchmark rates. These rates can be considered on the second position after Belarus, having a strong influence from lazy export growth.

In addition, the Belgrade-based Narodna Banka Srbije on Wednesday notified a roll down in repurchase rate to 11.25, significantly deviated figure as compared to previous figure of 11.75%. The bank has updated these deviations on its website.

Banco Espanol de Credito (Banesto), said that it has recorded 95 per cent fall in its net profit for fourth quarter previous fiscal.

Banesto, Spain's fourth-biggest bank by market capitalization and managed by global giant Banco Santander, posted a net profit of only EUR6.2 million in the last three months of 2009, which is nowhere near to the net profit of EUR126 million in 2008. However, analysts had estimated EUR12.5 million net profits.